Tanger (NYSE:SKT) Sets New 12-Month High – Still a Buy?

Shares of Tanger Inc. (NYSE:SKT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $40.56 and last traded at $40.7140, with a volume of 779023 shares traded. The stock had previously closed at $40.46.

Wall Street Analyst Weigh In

SKT has been the subject of several research analyst reports. LADENBURG THALM/SH SH lifted their price objective on Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Bank of America reiterated a “neutral” rating and set a $39.00 price objective on shares of Tanger in a research report on Friday, March 6th. Barclays raised their target price on Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Scotiabank boosted their price target on Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 19th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Tanger in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Tanger presently has a consensus rating of “Hold” and an average price target of $38.43.

Tanger Stock Up 0.5%

The company’s 50 day moving average price is $36.42 and its two-hundred day moving average price is $34.93. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67. The firm has a market cap of $4.67 billion, a PE ratio of 38.08, a PEG ratio of 1.92 and a beta of 1.11.

Tanger (NYSE:SKT) last posted its quarterly earnings data 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 quarter last year, the company earned $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities research analysts expect that Tanger Inc. will post 2.46 EPS for the current fiscal year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a dividend of $0.3125 per share. This is a boost from Tanger’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, April 30th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.1%. Tanger’s dividend payout ratio is presently 116.82%.

Institutional Investors Weigh In On Tanger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SHP Wealth Management bought a new position in shares of Tanger in the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in shares of Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 531 shares during the period. Fifth Third Bancorp raised its position in shares of Tanger by 43.2% during the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 293 shares during the period. Advisory Services Network LLC bought a new position in Tanger in the 3rd quarter worth $33,000. Finally, Laurel Wealth Advisors LLC bought a new position in Tanger in the 4th quarter worth $34,000. Institutional investors own 85.23% of the company’s stock.

About Tanger

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.