Tanger (NYSE:SKT) Price Target Raised to $42.00

Tanger (NYSE:SKT) had its target price upped by LADENBURG THALM/SH SH from $40.00 to $42.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s price objective would indicate a potential upside of 5.41% from the company’s previous close.

Other analysts also recently issued reports about the stock. Compass Point downgraded shares of 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. Barclays lifted their price target on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Evercore set a $37.00 price target on shares of Tanger in a report on Friday, May 1st. Scotiabank lifted their price target on shares of Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.43.

Tanger Stock Up 1.0%

Shares of NYSE:SKT traded up $0.38 on Wednesday, reaching $39.85. The company had a trading volume of 503,907 shares, compared to its average volume of 942,187. Tanger has a twelve month low of $29.24 and a twelve month high of $40.06. The stock has a 50-day moving average price of $36.06 and a 200 day moving average price of $34.79. 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 stock has a market capitalization of $4.58 billion, a P/E ratio of 37.26, a P/E/G ratio of 1.76 and a beta of 1.11.

Tanger (NYSE:SKT) last posted its earnings results 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). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The firm had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s quarterly 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. On average, equities analysts expect that Tanger will post 2.46 EPS for the current year.

Hedge Funds Weigh In On Tanger

A number of institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in shares of Tanger by 17.0% in the first quarter. NewEdge Advisors LLC now owns 118,911 shares of the real estate investment trust’s stock worth $4,041,000 after acquiring an additional 17,297 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Tanger by 27.8% in the first quarter. Bank of America Corp DE now owns 446,687 shares of the real estate investment trust’s stock worth $15,178,000 after acquiring an additional 97,100 shares during the last quarter. Edgestream Partners L.P. raised its stake in shares of Tanger by 3.7% in the first quarter. Edgestream Partners L.P. now owns 17,509 shares of the real estate investment trust’s stock worth $595,000 after acquiring an additional 629 shares during the last quarter. Amundi raised its stake in shares of Tanger by 14.7% in the first quarter. Amundi now owns 82,964 shares of the real estate investment trust’s stock worth $2,819,000 after acquiring an additional 10,648 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Tanger by 49.2% in the first quarter. California State Teachers Retirement System now owns 150,941 shares of the real estate investment trust’s stock worth $5,129,000 after acquiring an additional 49,808 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

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.