Barclays Cuts Tanger (NYSE:SKT) Price Target to $41.00

Tanger (NYSE:SKT) had its price objective cut by Barclays from $42.00 to $41.00 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other research firms also recently weighed in on SKT. BMO Capital Markets lifted their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Scotiabank lifted their price objective on shares of Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. Evercore set a $39.00 target price on shares of Tanger in a research note on Tuesday, July 7th. LADENBURG THALM/SH SH raised their target price on Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, Citigroup upped their price target on Tanger from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tanger currently has an average rating of “Hold” and an average price target of $40.18.

Tanger Price Performance

Shares of NYSE:SKT opened at $34.28 on Monday. The company has a market capitalization of $3.94 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 1.71 and a beta of 1.10. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a fifty day moving average of $37.96 and a 200-day moving average of $37.50. Tanger has a one year low of $31.13 and a one year high of $42.53.

Tanger (NYSE:SKT) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The business had revenue of $156.39 million during the quarter, compared to the consensus estimate of $142.58 million. During the same period in the prior year, the business posted $0.58 earnings per share. Tanger’s revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, equities analysts anticipate that Tanger will post 2.5 EPS for the current fiscal year.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.6%. Tanger’s dividend payout ratio (DPR) is 113.64%.

Hedge Funds Weigh In On Tanger

A number of hedge funds have recently modified their holdings of SKT. SHP Wealth Management purchased a new stake in shares of Tanger during the fourth quarter worth $25,000. Fifth Third Bancorp increased 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 during the last quarter. CENTRAL TRUST Co acquired a new position in Tanger in the 1st quarter worth about $54,000. IFP Advisors Inc raised its stake in shares of Tanger by 80.5% during the 2nd quarter. IFP Advisors Inc now owns 1,628 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 726 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Tanger by 32.1% during the 1st quarter. Assetmark Inc. now owns 2,028 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 493 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

About Tanger

Tanger Inc is a real estate investment trust that owns, operates and develops open-air outlet shopping centers. The company leases retail space to a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and other consumer-oriented businesses.

Founded in 1981 by Stanley K. Tanger, the company helped establish the outlet-center format in the United States. Tanger’s properties are designed to serve both local shoppers and tourists, with tenants offering merchandise through outlet and value-oriented retail concepts.

Tanger serves markets across the United States and Canada through a portfolio of outlet centers located near major metropolitan areas, tourist destinations and highway corridors.