Tanger (NYSE:SKT) Research Coverage Started at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH began coverage on shares of Tanger (NYSE:SKT) in a report issued on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $35.00 target price on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on the company. Evercore ISI raised Tanger to a “hold” rating in a research report on Friday, May 2nd. The Goldman Sachs Group upgraded shares of Tanger from a “neutral” rating to a “buy” rating and raised their price target for the company from $39.00 to $40.00 in a report on Friday, March 28th. Scotiabank decreased their target price on shares of Tanger from $38.00 to $33.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Finally, Barclays began coverage on shares of Tanger in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $33.00 price target on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.40.

Tanger Stock Down 0.9%

Shares of SKT opened at $31.53 on Friday. The firm has a market capitalization of $3.57 billion, a P/E ratio of 37.54, a P/E/G ratio of 2.08 and a beta of 1.17. Tanger has a 12-month low of $26.62 and a 12-month high of $37.57. The firm has a fifty day moving average price of $30.53 and a 200-day moving average price of $32.01. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 2.37.

Tanger (NYSE:SKT) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The business had revenue of $129.29 million during the quarter, compared to analyst estimates of $128.24 million. Tanger had a return on equity of 15.13% and a net margin of 17.65%. Tanger’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. Equities research analysts expect that Tanger will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, July 31st. Tanger’s dividend payout ratio (DPR) is presently 139.29%.

Hedge Funds Weigh In On Tanger

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System raised its holdings in shares of Tanger by 0.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust’s stock valued at $1,272,000 after acquiring an additional 349 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Tanger by 2.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 16,664 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 385 shares in the last quarter. FIL Ltd grew its holdings in shares of Tanger by 16.2% during the fourth quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 401 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Tanger by 1.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 32,851 shares of the real estate investment trust’s stock valued at $1,121,000 after buying an additional 480 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of Tanger by 6.7% in the first quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 514 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

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.