Tanger (NYSE:SKT) Announces Earnings Results, Hits Expectations

Tanger (NYSE:SKT - Get Free Report) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24, FiscalAI reports. Tanger had a return on equity of 16.43% and a net margin of 19.70%.The business had revenue of $150.42 million during the quarter, compared to analysts' expectations of $142.94 million. During the same quarter in the previous year, the business posted $0.53 EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Tanger updated its FY 2026 guidance to 2.420-2.500 EPS.

Tanger Trading Up 0.8%

Shares of NYSE SKT opened at $37.05 on Friday. Tanger has a 1-year low of $28.69 and a 1-year high of $37.95. The company has a 50-day moving average of $35.83 and a two-hundred day moving average of $34.25. The company has a market cap of $4.24 billion, a PE ratio of 37.05, a P/E/G ratio of 1.76 and a beta of 1.20. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.17.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $1.25 dividend on an annualized basis and a yield of 3.4%. This is an increase from Tanger's previous quarterly dividend of $0.29. Tanger's payout ratio is currently 125.00%.

Wall Street Analyst Weigh In

SKT has been the subject of a number of analyst reports. Compass Point downgraded Tanger from a "buy" rating to a "neutral" rating and set a $38.00 price target for the company. in a research note on Thursday, February 26th. Scotiabank boosted their price objective on shares of Tanger from $34.00 to $36.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 24th. Bank of America restated a "neutral" rating and set a $39.00 price objective on shares of Tanger in a research report on Friday, March 6th. Barclays increased their price target on shares of Tanger from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Tanger in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Tanger currently has an average rating of "Hold" and a consensus target price of $36.71.

Institutional Investors Weigh In On Tanger

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Tanger by 2.8% during the 1st quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust's stock worth $4,905,000 after purchasing an additional 3,995 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Tanger by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust's stock valued at $1,291,000 after purchasing an additional 5,765 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Tanger by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust's stock worth $2,171,000 after buying an additional 3,631 shares during the period. United Services Automobile Association bought a new stake in shares of Tanger during the first quarter worth approximately $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Tanger by 436.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust's stock worth $27,073,000 after buying an additional 651,961 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

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.