Tanger Stock Price, News & Analysis (NYSE:SKT)

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Tanger in the last twelve months. There are currently 1 sell rating and 5 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" SKT shares.
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6 brokers have issued 1-year target prices for Tanger's shares. Their SKT share price targets range from $20.00 to $26.00. On average, they anticipate the company's share price to reach $24.00 in the next year. This suggests that the stock has a possible downside of 10.2%.
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Tanger's stock was trading at $17.94 at the beginning of 2023. Since then, SKT stock has increased by 48.9% and is now trading at $26.72.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 20th 2024.
View our SKT earnings forecast.

Tanger Inc. (NYSE:SKT) issued its earnings results on Monday, August, 8th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.42 by $0.23. The real estate investment trust earned $105.84 million during the quarter, compared to analysts' expectations of $104.45 million. Tanger had a trailing twelve-month return on equity of 18.25% and a net margin of 20.53%. The company's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS.

Tanger announced a quarterly dividend on Friday, October 13th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.26 per share on Wednesday, November 15th. This represents a $1.04 annualized dividend and a yield of 3.89%. The ex-dividend date is Monday, October 30th. This is an increase from the stock's previous quarterly dividend of $0.25.
Read our dividend analysis for SKT.

Tanger (NYSE:SKT) pays an annual dividend of $1.04 per share and currently has a dividend yield of 4.00%. SKT has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 119.54%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, SKT will have a dividend payout ratio of 52.53% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for SKT.

ETFs with the largest weight of Tanger (NYSE:SKT) stock in their portfolio include Cambria Global Real Estate ETF (BLDG), Invesco Dorsey Wright Financial Momentum ETF (PFI), RiverFront Dynamic US Dividend Advantage ETF (RFDA), Invesco S&P SmallCap Financials ETF (PSCF), Fidelity Real Estate Investment ETF (FPRO), iShares US Credit Bond ETF (CRED), JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE).SPDR S&P 600 Small Cap ETF (SLY).

Tanger updated its FY23 earnings guidance on Monday, November, 6th. The company provided EPS guidance of $1.91-1.95 for the period, compared to the consensus estimate of $1.92.

19 employees have rated Tanger Chief Executive Officer Steven B. Tanger on Glassdoor.com. Steven B. Tanger has an approval rating of 98% among the company's employees. This puts Steven B. Tanger in the top 20% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Tanger investors own include AT&T (T), Verizon Communications (VZ), Enterprise Products Partners (EPD), Delta Air Lines (DAL), Cisco Systems (CSCO), AbbVie (ABBV), Exxon Mobil (XOM), Simon Property Group (SPG), CVS Health (CVS) and Intel (INTC).

Tanger's stock is owned by a number of retail and institutional investors. Top institutional investors include FMR LLC (4.10%), Wellington Management Group LLP (3.75%), LSV Asset Management (2.27%), Ameriprise Financial Inc. (1.83%), Charles Schwab Investment Management Inc. (1.78%) and Northern Trust Corp (1.41%). Insiders that own company stock include Carrie A Warren, Chad Perry, Steven B Tanger, Susan E Skerritt, Thomas Joseph Guerrieri Jr and Thomas Reddin.
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Shares of SKT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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