Barclays Raises Tanger (NYSE:SKT) Price Target to $38.00

Tanger (NYSE:SKT) had its price target lifted by Barclays from $36.00 to $38.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 1.63% from the stock’s current price.

Several other research analysts also recently commented on the stock. Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a research note on Thursday, February 26th. Citigroup reaffirmed a “neutral” rating and set a $35.00 target price (down from $38.00) on shares of Tanger in a report on Wednesday, November 19th. Scotiabank lifted their target price on shares of Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, January 21st. Finally, LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.57.

Tanger Price Performance

Shares of Tanger stock opened at $37.39 on Monday. The firm has a market capitalization of $4.28 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.17. Tanger has a 12 month low of $28.69 and a 12 month high of $37.95. The business’s 50-day moving average price is $34.03 and its 200-day moving average price is $33.64.

Institutional Trading of Tanger

Several large investors have recently modified their holdings of SKT. Salomon & Ludwin LLC purchased a new position in Tanger during the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its position in shares of Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 531 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Tanger during the third quarter valued at approximately $33,000. City Holding Co. bought a new position in shares of Tanger during the third quarter valued at approximately $34,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Tanger in the fourth quarter worth $34,000. 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.