Tanger Inc. (NYSE:SKT) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Analysts collectively rate Tanger “Hold”: Seven of 10 brokerages recommend holding the stock, compared with two buys and one sell. The average 12-month price target is $40.40.
• Institutional ownership is high and rising: Several major investors increased their positions, and institutional investors now own 85.23% of Tanger’s shares.
• Recent operating results beat expectations: Tanger reported quarterly EPS of $0.29 versus the $0.25 consensus estimate, while revenue rose 11.2% year over year to $156.39 million. The company also declared a quarterly dividend of $0.3125 per share, representing a 3.2% annualized yield.

Tanger Inc. (NYSE:SKT - Get Free Report) has been given an average recommendation of "Hold" by the ten brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $40.40.

A number of brokerages have commented on SKT. UBS Group set a $41.00 target price on shares of Tanger in a report on Thursday, June 18th. 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 research note on Wednesday, June 17th. Bank of America reissued an "underperform" rating and set a $38.00 price objective on shares of Tanger in a research report on Tuesday, June 16th. LADENBURG THALM/SH SH upped their price objective on Tanger from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Finally, BMO Capital Markets raised their target price on Tanger from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, June 15th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SKT. Hsbc Holdings PLC increased its stake in Tanger by 28.8% in the 4th quarter. Hsbc Holdings PLC now owns 268,603 shares of the real estate investment trust's stock worth $8,987,000 after buying an additional 60,035 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Tanger by 25.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 783,777 shares of the real estate investment trust's stock valued at $26,155,000 after acquiring an additional 158,376 shares in the last quarter. Quantinno Capital Management LP lifted its position 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 acquiring 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 worth $15,178,000 after acquiring an additional 97,100 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Tanger by 69.0% in the first quarter. First Trust Advisors LP now owns 112,685 shares of the real estate investment trust's stock worth $3,829,000 after acquiring an additional 45,997 shares during the period. Institutional investors own 85.23% of the company's stock.

Tanger Trading Down 1.2%

Tanger stock opened at $38.46 on Wednesday. The business has a 50-day simple moving average of $39.89 and a two-hundred day simple moving average of $37.32. The company has a market cap of $4.42 billion, a P/E ratio of 34.97, a P/E/G ratio of 1.91 and a beta of 1.10. Tanger has a 52-week low of $31.13 and a 52-week high of $42.53. 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 (NYSE:SKT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm had revenue of $156.39 million during the quarter, compared to analyst estimates of $142.58 million. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Analysts predict that Tanger will post 2.48 EPS for the current year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, July 31st. Tanger's payout ratio is currently 113.64%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source