Tanger (NYSE:SKT) Reaches New 12-Month High - Here's What Happened

Key Points

• Tanger shares reached a new 52-week high of $42.08, closing near that level as the stock continued trading above its 50-day and 200-day moving averages.
• Analysts remain cautious, with Tanger carrying a consensus “Hold” rating and an average price target of $39.70, below its recent trading price.
• The REIT reported quarterly revenue growth of 11.1% year over year but missed earnings expectations, while maintaining a quarterly dividend of $0.3125 per share, equivalent to a 3.0% yield.

Tanger Inc. (NYSE:SKT - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $42.08 and last traded at $42.05, with a volume of 102494 shares traded. The stock had previously closed at $41.93.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Evercore set a $39.00 target price on Tanger in a research report on Tuesday, July 7th. LADENBURG THALM/SH SH boosted their price objective on Tanger from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. BMO Capital Markets upped their price objective on shares of Tanger from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Monday, June 15th. UBS Group set a $41.00 target price on shares of Tanger in a research note on Thursday, June 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tanger from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Tanger currently has an average rating of "Hold" and a consensus target price of $39.70.

Tanger Stock Down 0.5%

The stock has a 50-day simple moving average of $38.80 and a two-hundred day simple moving average of $36.34. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. The firm has a market cap of $4.79 billion, a PE ratio of 39.01, a P/E/G ratio of 2.14 and a beta of 1.09.

Tanger (NYSE:SKT - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). The firm had revenue of $150.42 million for the quarter, compared to analysts' expectations of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Analysts expect that Tanger Inc. will post 2.48 earnings per share for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.0%. Tanger's dividend payout ratio (DPR) is currently 116.82%.

Institutional Trading of Tanger

Several hedge funds have recently added to or reduced their stakes in SKT. SHP Wealth Management bought a new position in shares of Tanger during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its holdings in Tanger by 127.3% during 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 during the period. Fifth Third Bancorp boosted its holdings in Tanger by 43.2% during the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 293 shares during the period. Advisory Services Network LLC bought a new position in Tanger during the 3rd quarter worth approximately $33,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Tanger in the 4th quarter worth approximately $34,000. 85.23% of the stock is owned by institutional investors.

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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