Tanger Inc. (NYSE:SKT) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts maintain a consensus “Hold” rating on Tanger, with seven holds, two buys and one sell among 10 covering firms. The average 12-month price target is $39.70, below the reported share price of $40.67.
• Tanger’s latest quarterly results were mixed: revenue rose 11.1% year over year to $150.42 million and exceeded estimates, but EPS of $0.24 missed consensus by $0.04.
• The company declared a quarterly dividend of $0.3125 per share, equivalent to $1.25 annually and a 3.1% yield; institutional investors own 85.23% of the stock.

Shares of Tanger Inc. (NYSE:SKT - Get Free Report) have been given a consensus recommendation of "Hold" by the ten research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $39.70.

SKT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Tanger in a research note on Friday, July 17th. Barclays boosted their target price on shares of Tanger from $38.00 to $41.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft increased 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. BMO Capital Markets raised their price target 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. Finally, Bank of America reaffirmed an "underperform" rating and issued a $38.00 price objective on shares of Tanger in a report on Tuesday, June 16th.

Tanger Stock Down 0.8%

Tanger stock opened at $40.67 on Friday. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. Tanger has a 52 week low of $29.24 and a 52 week high of $42.53. The business's 50-day moving average price is $39.39 and its 200 day moving average price is $36.58. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The company had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The company's revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tanger will post 2.48 earnings per share for the current year.

Tanger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, July 31st. Tanger's dividend payout ratio (DPR) is presently 116.82%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in Tanger by 31.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust's stock valued at $5,124,000 after acquiring an additional 37,163 shares during the period. Hsbc Holdings PLC raised its position in Tanger by 28.8% during the fourth quarter. Hsbc Holdings PLC now owns 268,603 shares of the real estate investment trust's stock worth $8,987,000 after acquiring an additional 60,035 shares during the period. Tudor Investment Corp ET AL lifted its holdings in Tanger by 319.8% during the third quarter. Tudor Investment Corp ET AL now owns 94,736 shares of the real estate investment trust's stock valued at $3,206,000 after purchasing an additional 72,171 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Tanger by 25.3% during 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 purchasing an additional 158,376 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Tanger during the fourth quarter valued at $834,000. 85.23% of the stock is owned by institutional investors and hedge funds.

About Tanger

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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