Tanger (NYSE:SKT) Reaches New 1-Year High – Should You Buy?

Tanger Inc. (NYSE:SKT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $42.08 and last traded at $42.05, with a volume of 102494 shares. The stock had previously closed at $41.93.

Analyst Upgrades and Downgrades

SKT has been the subject of several analyst reports. LADENBURG THALM/SH SH increased their price target on shares of Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. BMO Capital Markets boosted their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Bank of America reaffirmed an “underperform” rating and set a $38.00 price objective on shares of Tanger in a research note on Tuesday, June 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a report on Friday, July 17th. Finally, UBS Group set a $41.00 target price on Tanger in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.70.

Tanger Trading Down 0.5%

The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. The firm’s fifty day moving average is $38.80 and its two-hundred day moving average is $36.34. The firm has a market cap of $4.79 billion, a P/E ratio of 39.01, a PEG ratio of 2.14 and a beta of 1.09.

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

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.3125 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.25 annualized dividend and a yield of 3.0%. Tanger’s dividend payout ratio (DPR) is 116.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SKT. Freestone Grove Partners LP grew its position in shares of Tanger by 6,634.5% in the 4th quarter. Freestone Grove Partners LP now owns 1,184,674 shares of the real estate investment trust’s stock worth $39,533,000 after buying an additional 1,167,083 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in Tanger by 2,190.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock valued at $28,181,000 after acquiring an additional 796,411 shares during the period. Vanguard Group Inc. boosted its stake in Tanger by 4.6% during the fourth 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tanger during the fourth quarter worth about $25,364,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Tanger by 436.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock worth $27,073,000 after purchasing an additional 651,961 shares during the period. 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.