Tanger (NYSE:SKT) Sets New 12-Month High – What’s Next?

Shares of Tanger Inc. (NYSE:SKT) hit a new 52-week high on Monday . The stock traded as high as $42.08 and last traded at $42.05, with a volume of 102494 shares trading hands. The stock had previously closed at $41.93.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SKT. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Friday, July 17th. Barclays increased their price target on Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. UBS Group set a $41.00 price objective on shares of Tanger in a research note on Thursday, June 18th. Finally, LADENBURG THALM/SH SH upped their price objective on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tanger has a consensus rating of “Hold” and a consensus target price of $39.70.

Tanger Price Performance

The stock has a fifty day simple moving average of $39.07 and a two-hundred day simple moving average of $36.45. The company has a market cap of $4.83 billion, a PE ratio of 39.33, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT) last issued 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 return on equity of 17.53% and a net margin of 20.76%.The business had revenue of $150.42 million for the quarter, compared to analysts’ expectations of $142.94 million. During the same period last year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities analysts predict that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, July 31st. Tanger’s payout ratio is presently 116.82%.

Institutional Trading of Tanger

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Freestone Grove Partners LP increased its holdings in Tanger by 6,634.5% in the fourth quarter. Freestone Grove Partners LP now owns 1,184,674 shares of the real estate investment trust’s stock valued at $39,533,000 after buying an additional 1,167,083 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Tanger by 2,190.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock worth $28,181,000 after acquiring an additional 796,411 shares during the period. Vanguard Group Inc. increased its stake in Tanger by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock valued at $598,979,000 after purchasing an additional 789,935 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tanger during the fourth quarter worth $25,364,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Tanger by 436.9% during the first 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 in the last quarter. Institutional investors and hedge funds 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.