Tanger Inc. (NYSE:SKT) Stock Has Average Price Target of $40.40 According to Analysts

Shares of Tanger Inc. (NYSE:SKT – Get Free Report) have been given an average recommendation of “Hold” by the eleven analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $40.27.

Several research analysts have commented on SKT shares. Scotiabank raised their target price on shares of Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Bank of America restated an “underperform” rating and set a $38.00 price target on shares of Tanger in a report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. lowered shares of Tanger from an “overweight” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research note on Thursday. Finally, Evercore set a $39.00 price objective on shares of Tanger in a research report on Tuesday, July 7th.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of Tanger by 1.8% in the second quarter. Envestnet Asset Management Inc. now owns 70,962 shares of the real estate investment trust’s stock worth $2,801,000 after purchasing an additional 1,279 shares in the last quarter. State Street Corp boosted its holdings in shares of Tanger by 0.5% during the second quarter. State Street Corp now owns 6,519,128 shares of the real estate investment trust’s stock worth $257,310,000 after purchasing an additional 30,825 shares during the period. The Manufacturers Life Insurance Company grew its position in Tanger by 8.6% during the second quarter. The Manufacturers Life Insurance Company now owns 54,328 shares of the real estate investment trust’s stock valued at $2,144,000 after purchasing an additional 4,296 shares in the last quarter. Tidal Investments LLC acquired a new position in Tanger in the 2nd quarter valued at approximately $941,000. Finally, Engineers Gate Manager LP acquired a new position in Tanger in the 2nd quarter valued at approximately $659,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Stock Down 0.6%

Shares of Tanger stock opened at $34.79 on Friday. The stock’s fifty day moving average is $38.39 and its 200-day moving average is $37.51. The firm has a market capitalization of $4.00 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. Tanger has a 12-month low of $31.13 and a 12-month high of $42.53.

Tanger (NYSE:SKT – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $156.39 million during the quarter, compared to analyst estimates of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%.Tanger’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Equities analysts anticipate that Tanger will post 2.49 earnings per share for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, July 31st. Tanger’s dividend payout ratio (DPR) is 113.64%.

Tanger Company Profile

(Get Free Report)

Tanger Inc (NYSE: SKT) is a real estate investment trust that owns, operates and develops open-air outlet and shopping centers. Its properties are designed to serve value-conscious consumers and include a mix of national and regional retailers across apparel, footwear, home goods, dining and other consumer categories.

The company’s primary business activities include leasing retail space, managing shopping-center operations and maintaining tenant relationships. Tanger’s portfolio serves shoppers in the United States and Canada, with properties generally located near major metropolitan areas, tourist destinations and high-traffic travel corridors.

Founded in 1981 by Stanley K.

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