Tanger (NYSE:SKT) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Tanger (NYSE:SKT) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Wall Street Zen raised Tanger from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Barclays increased their price target on Tanger from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 18th. Citigroup restated a “neutral” rating and set a $35.00 price target (down previously from $38.00) on shares of Tanger in a research note on Wednesday. Finally, Evercore ISI upped their price objective on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Tanger presently has an average rating of “Hold” and a consensus target price of $36.13.

Tanger Trading Up 1.7%

Shares of NYSE SKT opened at $33.44 on Thursday. The company has a market cap of $3.85 billion, a PE ratio of 38.00, a P/E/G ratio of 2.13 and a beta of 1.37. The firm’s 50 day moving average price is $33.29 and its 200-day moving average price is $32.08. Tanger has a 52-week low of $28.69 and a 52-week high of $37.57. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.11 and a current ratio of 0.11.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $145.21 million during the quarter, compared to analysts’ expectations of $139.30 million. Tanger had a return on equity of 15.45% and a net margin of 18.22%.Tanger’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. On average, equities research analysts expect that Tanger will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, October 31st. Tanger’s payout ratio is 124.47%.

Insider Buying and Selling

In other Tanger news, EVP Gallardo Leslie Swanson sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the completion of the sale, the executive vice president directly owned 92,665 shares in the company, valued at $3,219,182.10. This trade represents a 15.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Tanger

A number of large investors have recently modified their holdings of SKT. Salomon & Ludwin LLC purchased a new stake in Tanger during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its stake in 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 last quarter. Advisory Services Network LLC purchased a new stake in Tanger during the 3rd quarter valued at about $33,000. City Holding Co. acquired a new position in shares of Tanger in the third quarter valued at about $34,000. Finally, Neo Ivy Capital Management raised its stake in shares of Tanger by 346.3% in the second quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,018 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Company Profile

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.