Tanger (NYSE:SKT) Reaches New 52-Week High – Time to Buy?

Tanger Inc. (NYSE:SKT)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $40.56 and last traded at $40.7140, with a volume of 779023 shares trading hands. The stock had previously closed at $40.46.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SKT shares. Evercore set a $37.00 price target on shares of Tanger in a research note on Friday, May 1st. Scotiabank increased their price target on shares of Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 19th. BMO Capital Markets increased their price target on shares of Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday. Barclays increased their price target on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Finally, LADENBURG THALM/SH SH increased their price target on shares of Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.75.

Tanger Price Performance

The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 37.68, a P/E/G ratio of 1.93 and a beta of 1.11. The company has a fifty day moving average price of $36.65 and a two-hundred day moving average price of $35.03. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.04). The firm had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. Tanger’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities research analysts expect that Tanger Inc. will post 2.46 EPS for the current fiscal year.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This is an increase from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 annualized dividend and a dividend yield of 3.1%. Tanger’s dividend payout ratio is currently 116.82%.

Institutional Investors Weigh In On Tanger

Large investors have recently modified their holdings of the company. SHP Wealth Management acquired a new stake in shares of Tanger during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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. Fifth Third Bancorp lifted its holdings in shares of Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 293 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Tanger during the third quarter worth $33,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Tanger during the fourth quarter worth $34,000. 85.23% of the stock is owned by institutional investors and hedge funds.

About Tanger

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.