Tanger Inc. (NYSE:SKT) Stock Has Consensus Target Price of $40.17

Shares of Tanger Inc. (NYSE:SKT) have been given an average recommendation of “Hold” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $40.17.

Several brokerages have recently weighed in on SKT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Thursday, October 15th. The Goldman Sachs Group set a $40.00 price target on shares of Tanger in a research report on Wednesday, October 7th. Citigroup upped their price objective on shares of Tanger from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Evercore set a $39.00 target price on shares of Tanger in a research note on Tuesday, July 7th. Finally, Barclays cut their price target on shares of Tanger from $42.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, September 28th.

Tanger Trading Down 0.9%

NYSE:SKT opened at $35.30 on Thursday. Tanger has a 52 week low of $31.13 and a 52 week high of $42.53. The firm has a 50 day moving average of $36.32 and a 200 day moving average of $37.54. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.75 and a beta of 1.12.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $156.39 million during the quarter, compared to the consensus estimate of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, sell-side analysts anticipate that Tanger will post 2.50 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, October 30th. Tanger’s dividend payout ratio (DPR) is 113.64%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its holdings in Tanger by 1.8% in the second quarter. Envestnet Asset Management Inc. now owns 70,962 shares of the real estate investment trust’s stock valued at $2,801,000 after buying an additional 1,279 shares during the last quarter. State Street Corp increased its holdings in shares of Tanger by 0.5% in the 2nd quarter. State Street Corp now owns 6,519,128 shares of the real estate investment trust’s stock valued at $257,310,000 after acquiring an additional 30,825 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Tanger by 8.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,328 shares of the real estate investment trust’s stock valued at $2,144,000 after acquiring an additional 4,296 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Tanger in the 2nd quarter valued at about $941,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Tanger during the 2nd quarter worth about $659,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Company Profile

Tanger Inc (NYSE:SKT) is a real estate investment trust that owns, operates and develops open-air shopping centers, primarily outlet centers, in the United States and Canada. Its properties provide retail space for a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and specialty products.

The company generates revenue primarily by leasing retail space to tenants and providing related property-management services. Tanger’s shopping centers are generally located near major highways, tourist destinations and metropolitan areas, where they serve both local shoppers and visiting consumers.

Founded by Stanley Tanger, the company opened its first outlet center in Burlington, North Carolina, in 1981.