Shares of Tanger Inc. (NYSE:SKT – Get Free Report) have received an average rating of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $40.40.
Several research firms have commented on SKT. UBS Group set a $41.00 price objective on Tanger in a research note on Thursday, June 18th. LADENBURG THALM/SH SH boosted their target price on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Bank of America restated an “underperform” rating and set a $38.00 price target on shares of Tanger in a research note on Tuesday, June 16th. Scotiabank upped their price target on Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Finally, BMO Capital Markets increased their price target on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, June 15th.
Check Out Our Latest Stock Report on Tanger
Tanger Trading Up 0.7%
Tanger (NYSE:SKT – Get Free Report) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The business had revenue of $156.39 million during the quarter, compared to the consensus estimate of $142.58 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Analysts expect that Tanger will post 2.48 earnings per share for the current year.
Tanger Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, July 31st. Tanger’s dividend payout ratio (DPR) is 113.64%.
Institutional Trading of Tanger
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in Tanger by 28.8% during the 4th quarter. Hsbc Holdings PLC now owns 268,603 shares of the real estate investment trust’s stock worth $8,987,000 after purchasing an additional 60,035 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Tanger by 25.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 783,777 shares of the real estate investment trust’s stock valued at $26,155,000 after buying an additional 158,376 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Tanger by 347.5% in the first quarter. Quantinno Capital Management LP now owns 70,610 shares of the real estate investment trust’s stock valued at $2,399,000 after buying an additional 54,831 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Tanger by 27.8% in the first quarter. Bank of America Corp DE now owns 446,687 shares of the real estate investment trust’s stock valued at $15,178,000 after buying an additional 97,100 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new position in Tanger during the second quarter worth $1,253,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Tanger Company Profile
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.
Founded in 1981 by Stanley K.
Featured Stories
- Five stocks we like better than Tanger
- Dutch Bros Sell-Off Creates a Growth Opportunity
- NVIDIA’s MediaTek Bet Shows How It Plans to Defend Its AI Moat
- Is Abercrombie & Fitch’s Hot Streak Just Getting Started?
- Medtronic’s Stars Are Aligning for a Price Recovery
Receive News & Ratings for Tanger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger and related companies with MarketBeat.com's FREE daily email newsletter.
