Tanger (NYSE:SKT) Given New $41.00 Price Target at Barclays

Key Points

• Barclays lowered Tanger’s price target to $41 from $42 while maintaining an “equal weight” rating, implying 17.86% potential upside from the stock’s $34.79 price.
• Analyst sentiment remains cautious: Tanger has an overall “Hold” consensus rating and an average price target of $40.18, with two Buy ratings, eight Holds, and one Sell.
• Tanger exceeded quarterly expectations, reporting $0.29 in EPS versus the $0.25 consensus and $156.39 million in revenue versus $142.58 million expected. Revenue increased 11.2% year over year.

Tanger (NYSE:SKT - Get Free Report) had its price target lowered by equities research analysts at Barclays from $42.00 to $41.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price target suggests a potential upside of 17.86% from the stock's current price.

Several other research firms have also commented on SKT. JPMorgan Chase & Co. lowered shares of Tanger from an "overweight" rating to a "neutral" rating and set a $39.00 price target on the stock. in a research report on Thursday. BMO Capital Markets upped their target price on Tanger from $40.00 to $42.00 and gave the company a "market perform" rating in a research note on Monday, June 15th. Evercore set a $39.00 price objective on Tanger in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tanger from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Wednesday, June 17th. Finally, UBS Group set a $41.00 target price on shares of Tanger in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $40.18.

Tanger Trading Up 0.2%

Shares of SKT opened at $34.79 on Monday. The firm's 50-day moving average is $38.39 and its two-hundred day moving average is $37.52. Tanger has a twelve month low of $31.13 and a twelve month high of $42.53. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $4.00 billion, a P/E ratio of 31.63, a PEG ratio of 1.69 and a beta of 1.10.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $156.39 million during the quarter, compared to analysts' expectations of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%.Tanger's revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. On average, research analysts predict that Tanger will post 2.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SHP Wealth Management purchased a new stake in Tanger during the 4th quarter worth $25,000. Fifth Third Bancorp boosted its position in Tanger by 43.2% in the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 293 shares during the last quarter. CENTRAL TRUST Co acquired a new stake in shares of Tanger during the first quarter valued at about $54,000. IFP Advisors Inc grew its stake in shares of Tanger by 80.5% during the second quarter. IFP Advisors Inc now owns 1,628 shares of the real estate investment trust's stock valued at $64,000 after acquiring an additional 726 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Tanger by 32.1% during the first quarter. Assetmark Inc. now owns 2,028 shares of the real estate investment trust's stock worth $69,000 after acquiring an additional 493 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

About Tanger

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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