Barclays Issues Positive Forecast for Tanger (NYSE:SKT) Stock Price

Tanger (NYSE:SKT) had its price objective upped by stock analysts at Barclays from $36.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 2.95% from the stock’s current price.

A number of other equities analysts also recently commented on SKT. Scotiabank upped their price objective on shares of Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Compass Point lowered shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a research note on Thursday. LADENBURG THALM/SH SH raised shares of Tanger to a “strong-buy” rating in a report on Thursday, November 20th. Citigroup reaffirmed a “neutral” rating and issued a $35.00 price objective (down from $38.00) on shares of Tanger in a report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Tanger presently has a consensus rating of “Moderate Buy” and an average price target of $36.57.

Tanger Stock Performance

Shares of NYSE:SKT traded down $0.15 during trading on Monday, reaching $36.91. The company had a trading volume of 111,407 shares, compared to its average volume of 1,163,789. Tanger has a fifty-two week low of $28.69 and a fifty-two week high of $37.95. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s fifty day moving average price is $33.91 and its 200 day moving average price is $33.57. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 36.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15.

Institutional Trading of Tanger

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Tanger by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock valued at $598,979,000 after buying an additional 789,935 shares in the last quarter. State Street Corp grew its stake in Tanger by 3.4% during the second quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock worth $202,924,000 after buying an additional 215,174 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tanger by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock worth $96,111,000 after buying an additional 27,201 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Tanger by 11.3% in the fourth quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust’s stock valued at $81,019,000 after acquiring an additional 245,639 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Tanger by 13.0% in the 3rd quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock worth $77,870,000 after acquiring an additional 264,408 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Company Profile

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.