Tanger (NYSE:SKT) Hits New 52-Week High – Still a Buy?

Tanger Inc. (NYSE:SKT) shares hit a new 52-week high on Thursday . The company traded as high as $41.05 and last traded at $41.0850, with a volume of 485524 shares traded. The stock had previously closed at $40.54.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SKT. Barclays increased their price target on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Bank of America reaffirmed an “underperform” rating and issued a $38.00 target price on shares of Tanger in a report on Tuesday, June 16th. Scotiabank raised their target price on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research note on Thursday, June 18th. Compass Point cut Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a report on Thursday, February 26th. Finally, LADENBURG THALM/SH SH boosted their price target on Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tanger currently has a consensus rating of “Hold” and a consensus price target of $39.50.

Tanger Stock Performance

The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 38.38, a price-to-earnings-growth ratio of 2.05 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. The stock’s 50 day moving average is $37.08 and its 200 day moving average is $35.30.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The firm had revenue of $150.42 million for the quarter, compared to the consensus estimate of $142.94 million. Tanger had a return on equity of 17.53% and a net margin of 20.76%.The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current year.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.25 dividend on an annualized basis and a yield of 3.0%. This is a positive change from Tanger’s previous quarterly dividend of $0.29. Tanger’s payout ratio is currently 116.82%.

Institutional Investors Weigh In On Tanger

A number of hedge funds and other institutional investors have recently modified their holdings of SKT. Freestone Grove Partners LP increased its position in Tanger by 6,634.5% during the fourth quarter. Freestone Grove Partners LP now owns 1,184,674 shares of the real estate investment trust’s stock worth $39,533,000 after acquiring an additional 1,167,083 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in shares of Tanger by 2,190.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock worth $28,181,000 after purchasing an additional 796,411 shares during the period. Vanguard Group Inc. increased its stake in Tanger by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock worth $598,979,000 after acquiring an additional 789,935 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tanger in the 4th quarter valued at $25,364,000. Finally, American Century Companies Inc. lifted its position in shares of Tanger by 1,459.4% during the 3rd quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock valued at $26,662,000 after acquiring an additional 737,354 shares during the period. 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.