Analysts Set Tanger Inc. (NYSE:SKT) Price Target at $36.00

Tanger Inc. (NYSE:SKT) has been assigned an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $36.00.

A number of equities analysts have recently commented on the company. 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 on the stock. BMO Capital Markets began coverage on Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price on the stock.

Tanger Stock Performance

Tanger stock opened at $31.87 on Wednesday. The stock’s 50-day moving average is $33.65 and its 200-day moving average is $33.97. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 36.63, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. Tanger has a 12 month low of $25.94 and a 12 month high of $37.57.

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

Tanger Announces Dividend

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

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the sale, the chief operating officer now directly owns 113,158 shares in the company, valued at $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tanger

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd increased its holdings in Tanger by 232.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 733 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Tanger by 3,393.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 1,663 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Tanger in the 4th quarter worth approximately $68,000. Coppell Advisory Solutions LLC grew its position in shares of Tanger by 144.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 1,399 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Tanger by 24.9% in the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 514 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

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.