Tanger Inc. (NYSE:SKT) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts give Tanger a consensus rating of Hold (six holds, one buy, one strong buy) with an average 12‑month target price of $36.71.
• Institutional investors own 85.23% of the company, and major funds like Vanguard, State Street, Wellington and Invesco have recently increased their positions.
• Tanger raised its quarterly dividend to $0.3125 (annualized $1.25) for a ~3.4% yield, but the dividend payout ratio is a high 117%.

Tanger Inc. (NYSE:SKT - Get Free Report) has received a consensus recommendation of "Hold" from the eight brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.7143.

Several research firms have recently commented on SKT. Barclays raised their price objective on Tanger from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. Scotiabank increased their target price on Tanger from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 24th. Compass Point cut Tanger from a "buy" rating to a "neutral" rating and set a $38.00 target price for the company. in a research report on Thursday, February 26th. Bank of America reiterated a "neutral" rating and set a $39.00 target price on shares of Tanger in a research report on Friday, March 6th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Tanger in a research report on Monday.

Institutional Trading of Tanger

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Tanger by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust's stock worth $598,979,000 after purchasing an additional 789,935 shares in the last quarter. State Street Corp grew its position in shares of Tanger by 3.4% during the second quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust's stock valued at $202,924,000 after purchasing an additional 215,174 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tanger by 1.0% during 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 purchasing an additional 27,201 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Tanger by 11.3% during the fourth quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust's stock valued at $81,019,000 after purchasing an additional 245,639 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Tanger by 13.0% during the third quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust's stock valued at $77,870,000 after purchasing an additional 264,408 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Tanger Stock Down 0.4%

NYSE SKT opened at $36.59 on Thursday. The stock's 50-day moving average price is $35.52 and its 200-day moving average price is $34.08. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.17. Tanger has a 52 week low of $28.69 and a 52 week high of $37.95. The company has a market capitalization of $4.19 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be given a dividend of $0.3125 per share. This is an increase from Tanger's previous quarterly dividend of $0.29. This represents a $1.25 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, April 30th. Tanger's dividend payout ratio (DPR) is 117.00%.

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.

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