Tanger (NYSE:SKT) Hits New 1-Year High – Time to Buy?

Shares of Tanger Inc. (NYSE:SKT) reached a new 52-week high on Tuesday . The company traded as high as $37.98 and last traded at $38.1550, with a volume of 43431 shares changing hands. The stock had previously closed at $37.04.

Analysts Set New Price Targets

A number of research firms have weighed in on SKT. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Bank of America reissued a “neutral” rating and issued a $39.00 target price on shares of Tanger in a report on Friday, March 6th. Scotiabank raised their price objective on Tanger from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 19th. Compass Point downgraded Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a research note on Thursday, February 26th. Finally, Evercore set a $37.00 price objective on Tanger in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.43.

Tanger Price Performance

The firm has a 50 day moving average of $35.94 and a 200-day moving average of $34.74. The company has a market cap of $4.46 billion, a P/E ratio of 36.19, a P/E/G ratio of 1.76 and a beta of 1.11. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities research analysts predict that Tanger Inc. will post 2.46 EPS for the current year.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a $0.3125 dividend. This is a positive change from Tanger’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, April 30th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.2%. Tanger’s dividend payout ratio (DPR) is presently 116.82%.

Hedge Funds Weigh In On Tanger

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in Tanger by 31.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock valued at $5,124,000 after purchasing an additional 37,163 shares in the last quarter. American Century Companies Inc. raised its position in shares of Tanger by 1,459.4% in the 3rd quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock worth $26,662,000 after acquiring an additional 737,354 shares in the last quarter. Elo Mutual Pension Insurance Co grew its stake in Tanger by 131.6% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 35,714 shares of the real estate investment trust’s stock worth $1,209,000 after buying an additional 20,292 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Tanger by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 984,836 shares of the real estate investment trust’s stock worth $33,327,000 after buying an additional 207,199 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its stake in Tanger by 6,186.3% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 721,599 shares of the real estate investment trust’s stock worth $24,419,000 after buying an additional 710,120 shares during the last quarter. Hedge funds and other institutional investors 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.