Tanger Inc. (NYSE:SKT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Tanger Inc. (NYSE:SKT) has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month target price of $36.50.
• In recent trading, EVP Gallardo Leslie Swanson sold 17,500 shares at an average price of $34.74, indicating a significant decrease in their ownership position.
• The company reported a 9.2% revenue increase to $133.44 million in its latest quarterly earnings, with an EPS of $0.58, exceeding estimates.

Shares of Tanger Inc. (NYSE:SKT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $36.50.

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Tanger from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. LADENBURG THALM/SH SH assumed coverage on Tanger in a report on Friday, July 18th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, Barclays lifted their price objective on Tanger from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th.

Tanger Trading Down 1.1%

SKT traded down $0.38 during midday trading on Wednesday, reaching $34.16. 574,039 shares of the company were exchanged, compared to its average volume of 646,274. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.11 and a current ratio of 0.11. Tanger has a one year low of $28.69 and a one year high of $37.57. The stock has a market capitalization of $3.87 billion, a P/E ratio of 38.82, a PEG ratio of 2.20 and a beta of 1.34. The stock's 50-day simple moving average is $32.48 and its 200 day simple moving average is $31.71.

Tanger (NYSE:SKT - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The firm had revenue of $133.44 million for the quarter, compared to analysts' expectations of $132.02 million. During the same quarter last year, the business earned $0.53 earnings per share. The company's revenue was up 9.2% compared to the same quarter last year. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. As a group, analysts forecast that Tanger will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a $0.2925 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 3.4%. Tanger's payout ratio is presently 132.95%.

Insider Buying and Selling

In other Tanger news, EVP Gallardo Leslie Swanson sold 17,500 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $34.74, for a total value of $607,950.00. Following the sale, the executive vice president owned 92,665 shares in the company, valued at approximately $3,219,182.10. The trade was a 15.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Tanger

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 531 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Tanger during the 1st quarter worth approximately $30,000. Neo Ivy Capital Management raised its stake in shares of Tanger by 346.3% during the 2nd quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 1,018 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Tanger during the 2nd quarter worth approximately $47,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Tanger by 3,451.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 1,415 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Tanger Company Profile

Tanger Inc NYSE: SKT is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.