Tanger’s (SKT) “Buy (B)” Rating Reiterated at Weiss Ratings

Tanger (NYSE:SKT)‘s stock had its “buy (b)” rating restated by stock analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

A number of other brokerages have also weighed in on SKT. Wall Street Zen upgraded shares of Tanger from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. LADENBURG THALM/SH SH assumed coverage on shares of Tanger in a research note on Friday, July 18th. They set a “buy” rating and a $35.00 target price for the company. Barclays boosted their target price on shares of Tanger from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Finally, Evercore ISI boosted their target price on shares of Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Tanger Price Performance

Shares of SKT opened at $33.30 on Friday. The firm has a market cap of $3.77 billion, a PE ratio of 37.84, a P/E/G ratio of 2.14 and a beta of 1.36. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. The firm has a fifty day simple moving average of $33.43 and a two-hundred day simple moving average of $31.78. Tanger has a 1-year low of $28.69 and a 1-year high of $37.57.

Tanger (NYSE:SKT) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $133.44 million during the quarter, compared to analyst estimates of $132.02 million. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. On average, equities analysts anticipate that Tanger will post 2.24 EPS for the current year.

Insider Buying and Selling

In other Tanger news, EVP Gallardo Leslie Swanson sold 17,500 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the sale, the executive vice president owned 92,665 shares in the company, valued at $3,219,182.10. The trade was a 15.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is currently owned by insiders.

Institutional Trading of Tanger

Hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC purchased a new stake in Tanger in the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC lifted its stake in Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares in the last quarter. City Holding Co. purchased a new stake in Tanger in the 3rd quarter worth $34,000. Neo Ivy Capital Management lifted its stake in Tanger by 346.3% in the 2nd quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Tanger by 3,451.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,415 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Company Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.