Tanger (NYSE:SKT) Rating Lowered to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded Tanger from “overweight” to “neutral” and set a $39 price target, implying 10.87% upside from the prior close.
• Analyst sentiment is broadly cautious, with a consensus “hold” rating and an average price target of $40.27; ratings include two buys, eight holds, and one sell.
• Tanger exceeded quarterly expectations, reporting $0.29 EPS versus $0.25 expected and $156.39 million in revenue versus $142.58 million forecast. Institutional investors own 85.23% of the stock.

Tanger (NYSE:SKT - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $39.00 price target on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 10.87% from the stock's previous close.

SKT has been the topic of a number of other research reports. UBS Group set a $41.00 price objective on shares of Tanger in a research report on Thursday, June 18th. BMO Capital Markets boosted their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a "market perform" rating in a research report on Monday, June 15th. LADENBURG THALM/SH SH raised their price target on Tanger from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Evercore set a $39.00 price objective on shares of Tanger in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Tanger in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tanger presently has a consensus rating of "Hold" and an average target price of $40.27.

Tanger Stock Performance

Shares of SKT opened at $35.18 on Thursday. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a 50-day moving average of $38.66 and a 200-day moving average of $37.53. Tanger has a one year low of $31.13 and a one year high of $42.53. The company has a market cap of $4.04 billion, a PE ratio of 31.98, a P/E/G ratio of 1.74 and a beta of 1.10.

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 the consensus estimate of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The firm had revenue of $156.39 million for the quarter, compared to analysts' expectations of $142.58 million. During the same quarter last year, the firm posted $0.58 EPS. The company's 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. On average, equities research analysts predict that Tanger will post 2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Tanger

Several large investors have recently bought and sold shares of SKT. BlackRock Inc. lifted its position in Tanger by 7.7% in the 2nd quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust's stock valued at $876,688,000 after acquiring an additional 1,582,006 shares in the last quarter. State Street Corp grew its holdings in 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 valued at $257,310,000 after purchasing an additional 30,825 shares during the period. Geode Capital Management LLC boosted its position in shares of Tanger by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust's stock valued at $96,111,000 after acquiring an additional 27,201 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Tanger by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,694,607 shares of the real estate investment trust's stock worth $57,584,000 after acquiring an additional 42,114 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Tanger by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 860,761 shares of the real estate investment trust's stock worth $33,974,000 after buying an additional 23,200 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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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