Tanger (NYSE:SKT) Receives “Underperform” Rating from Bank of America

Tanger (NYSE:SKT)‘s stock had its “underperform” rating reiterated by equities research analysts at Bank of America in a report issued on Tuesday,Benzinga reports. They currently have a $38.00 target price on the real estate investment trust’s stock. Bank of America‘s price objective would indicate a potential downside of 6.19% from the stock’s previous close.

A number of other equities research analysts have also commented on SKT. BMO Capital Markets upped their target price on Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday. Scotiabank upped their target price on Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 19th. Barclays upped their target price on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Monday, April 20th. Finally, Evercore set a $37.00 target price on Tanger in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.75.

Tanger Stock Performance

SKT opened at $40.51 on Tuesday. Tanger has a 52-week low of $29.24 and a 52-week high of $41.03. 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 company has a market cap of $4.65 billion, a P/E ratio of 37.86, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The firm’s 50-day moving average price is $36.53 and its 200-day moving average price is $34.98.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The company had revenue of $150.42 million for the quarter, compared to analyst estimates of $142.94 million. During the same quarter last year, the company earned $0.53 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, equities analysts anticipate that Tanger will post 2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Tanger

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its position in Tanger by 43.2% in the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 293 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Tanger by 5.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust’s stock worth $199,000 after acquiring an additional 306 shares during the last quarter. M&T Bank Corp increased its stake in shares of Tanger by 3.3% in the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 326 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Tanger by 13.2% during the 4th quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock worth $95,000 after purchasing an additional 332 shares during the last quarter. Finally, M&G PLC increased its position in shares of Tanger by 5.6% during the 3rd quarter. M&G PLC now owns 6,435 shares of the real estate investment trust’s stock worth $219,000 after purchasing an additional 340 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.