Tanger (NYSE:SKT) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Tanger stock crossed above its 200-day moving average on Monday, trading as high as $37.19 and last at $37.12 versus a 200-day MA of $34.05.
• Dividend boost: the company raised its quarterly dividend to $0.3125 (annualized $1.25) for a 3.4% yield with an ex-dividend date of April 30, though the payout ratio is a high 117%.
• Analyst and valuation snapshot: the consensus is an average "Hold" rating with a $36.71 target, while Tanger has a $4.25 billion market cap and a P/E of 37.12.

Tanger Inc. (NYSE:SKT - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $34.05 and traded as high as $37.19. Tanger shares last traded at $37.12, with a volume of 610,400 shares.

Analyst Ratings Changes

Several research analysts have weighed in on SKT shares. Scotiabank upped 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 reiterated a "neutral" rating and issued a $39.00 target price on shares of Tanger in a research note on Friday, March 6th. Compass Point lowered shares of Tanger from a "buy" rating to a "neutral" rating and set a $38.00 target price for the company. in a research note on Thursday, February 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Tanger in a research note on Wednesday, January 21st. Finally, Barclays upped their target price on shares of Tanger from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $36.71.

Tanger Stock Performance

The company has a market cap of $4.25 billion, a P/E ratio of 37.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20. The company's 50-day moving average is $35.42 and its two-hundred day moving average is $34.05. 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 Increases Dividend

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

Hedge Funds Weigh In On Tanger

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SHP Wealth Management bought a new position in Tanger during the fourth quarter worth about $25,000. Salomon & Ludwin LLC bought a new position in Tanger during the third quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its position in Tanger by 127.3% during the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 531 shares during the period. Advisory Services Network LLC bought a new position in Tanger during the third quarter worth about $33,000. Finally, City Holding Co. bought a new position in Tanger during the third quarter worth about $34,000. Institutional investors own 85.23% of the company's stock.

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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