Tanger Inc. (NYSE:SKT) Receives $36.00 Average PT from Analysts

Shares of Tanger Inc. (NYSE:SKT) have received an average recommendation of “Hold” from the eight analysts that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $36.00.

Several brokerages have recently weighed in on SKT. Deutsche Bank Aktiengesellschaft began coverage on Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price objective for the company. BMO Capital Markets began coverage on Tanger in a report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price objective for the company.

Insider Transactions at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value of $404,750.00. Following the sale, the chief operating officer now owns 113,158 shares of the company’s stock, valued at $3,664,056.04. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Tanger

Institutional investors have recently bought and sold shares of the company. KBC Group NV raised its holdings in shares of Tanger by 31.5% during the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 881 shares during the period. Metis Global Partners LLC raised its holdings in shares of Tanger by 29.7% during the third quarter. Metis Global Partners LLC now owns 11,261 shares of the real estate investment trust’s stock valued at $374,000 after purchasing an additional 2,577 shares during the period. Natixis Advisors LLC raised its holdings in shares of Tanger by 55.3% during the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock valued at $2,393,000 after purchasing an additional 25,683 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Tanger by 13.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 418,712 shares of the real estate investment trust’s stock worth $13,893,000 after acquiring an additional 50,100 shares during the last quarter. Finally, Quest Partners LLC lifted its position in Tanger by 6.9% in the 3rd quarter. Quest Partners LLC now owns 32,891 shares of the real estate investment trust’s stock valued at $1,091,000 after acquiring an additional 2,111 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Performance

Shares of Tanger stock opened at $31.87 on Wednesday. The company has a market capitalization of $3.59 billion, a PE ratio of 36.63, a PEG ratio of 2.97 and a beta of 1.88. Tanger has a 12 month low of $25.94 and a 12 month high of $37.57. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. The stock’s fifty day simple moving average is $33.65 and its 200 day simple moving average is $33.92.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The business had revenue of $132.17 million for the quarter, compared to the consensus estimate of $129.10 million. On average, research analysts predict that Tanger will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.45%. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

Tanger Company Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.