Tanger (NYSE:SKT) Updates FY 2025 Earnings Guidance

Tanger (NYSE:SKT) updated its FY 2025 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.280-2.320 for the period, compared to the consensus earnings per share estimate of 1.470. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

SKT has been the subject of a number of research analyst reports. Evercore ISI boosted their price target on Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Wall Street Zen upgraded Tanger from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. LADENBURG THALM/SH SH assumed coverage on Tanger in a research report on Friday, July 18th. They set a “buy” rating and a $35.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Finally, Barclays boosted their price objective on Tanger from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tanger currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Tanger Stock Performance

SKT stock traded up $0.89 during trading on Tuesday, reaching $33.67. 1,692,801 shares of the company’s stock were exchanged, compared to its average volume of 929,988. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.31. Tanger has a 1-year low of $28.69 and a 1-year high of $37.57. The company’s fifty day moving average price is $33.42 and its 200-day moving average price is $31.84. The firm has a market cap of $3.81 billion, a PE ratio of 38.26, a P/E/G ratio of 2.13 and a beta of 1.36.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. On average, research analysts expect that Tanger will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, October 31st. Tanger’s payout ratio is presently 132.95%.

Insiders Place Their Bets

In other news, EVP Gallardo Leslie Swanson sold 17,500 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $34.74, for a total transaction of $607,950.00. Following the completion of the sale, the executive vice president owned 92,665 shares in the company, valued at approximately $3,219,182.10. This represents a 15.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Tanger

Several large investors have recently added to or reduced their stakes in SKT. Royal Bank of Canada boosted its position in Tanger by 2.8% in the 1st quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock valued at $4,905,000 after buying an additional 3,995 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Tanger by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock worth $1,291,000 after purchasing an additional 5,765 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Tanger by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock worth $2,171,000 after purchasing an additional 3,631 shares during the last quarter. United Services Automobile Association bought a new position in shares of Tanger in the 1st quarter worth $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tanger by 436.9% in the 1st 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 last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.