Tanger (NYSE:SKT) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Tanger shares crossed above their 200-day moving average, reaching $36.81 before closing at $36.61, up 0.5%. The company has a market capitalization of approximately $4.21 billion.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from MarketBeat analysts and an average price target of $40.17. Recent targets range from $39 to $41.
• Tanger reported quarterly EPS of $0.29, beating estimates of $0.25, while revenue rose 11.2% year over year to $156.39 million. The REIT also declared a quarterly dividend of $0.3125 per share, representing a 3.4% annualized yield.

Tanger Inc. (NYSE:SKT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $36.60 and traded as high as $36.81. Tanger shares last traded at $36.61, with a volume of 608,308 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SKT shares. 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, September 24th. Citigroup increased their target price on shares of Tanger from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group set a $40.00 target price on Tanger in a report on Wednesday, October 7th. Barclays reduced their price target on Tanger from $42.00 to $41.00 and set an "equal weight" rating for the company in a research report on Monday, September 28th. Finally, Evercore set a $39.00 price target on Tanger in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $40.17.

Tanger Stock Up 0.5%

The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. The business has a 50-day simple moving average of $36.21 and a 200-day simple moving average of $36.60. The stock has a market cap of $4.21 billion, a P/E ratio of 33.28, a PEG ratio of 2.28 and a beta of 1.12.

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 analysts' consensus estimates of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The company had revenue of $156.39 million for the quarter, compared to analyst estimates of $142.58 million. During the same quarter last year, the firm posted $0.58 earnings per share. The company'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 Inc. will post 2.50 EPS for the current year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.3125 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.25 dividend on an annualized basis and a yield of 3.4%. Tanger's dividend payout ratio (DPR) is presently 113.64%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of 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 purchasing an additional 293 shares during the period. Choreo LLC lifted its holdings in shares of Tanger by 3.9% in the second quarter. Choreo LLC now owns 8,129 shares of the real estate investment trust's stock valued at $321,000 after purchasing an additional 308 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Tanger by 2.4% in the first quarter. IFM Investors Pty Ltd now owns 18,452 shares of the real estate investment trust's stock valued at $627,000 after purchasing an additional 435 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Tanger by 32.1% in the first quarter. Assetmark Inc. now owns 2,028 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 493 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Tanger by 1.6% during the first quarter. PNC Financial Services Group Inc. now owns 34,547 shares of the real estate investment trust's stock worth $1,174,000 after buying an additional 530 shares during the period. Institutional investors own 85.23% of the company's stock.

Tanger Company Profile

Tanger Inc NYSE: SKT is a real estate investment trust that owns, operates and develops open-air shopping centers, primarily outlet centers, in the United States and Canada. Its properties provide retail space for a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and specialty products.

The company generates revenue primarily by leasing retail space to tenants and providing related property-management services. Tanger's shopping centers are generally located near major highways, tourist destinations and metropolitan areas, where they serve both local shoppers and visiting consumers.

Founded by Stanley Tanger, the company opened its first outlet center in Burlington, North Carolina, in 1981.

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