Tanger Inc. (NYSE:SKT) Given Average Rating of “Moderate Buy” by Brokerages

Tanger Inc. (NYSE:SKT) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $36.5714.

Several research analysts recently commented on SKT shares. Barclays raised their price target on shares of Tanger from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday. Citigroup reiterated a “neutral” rating and issued a $35.00 price target (down from $38.00) on shares of Tanger in a report on Wednesday, November 19th. LADENBURG THALM/SH SH upgraded Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. Finally, Scotiabank upped their price target on Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th.

Institutional Trading of Tanger

A number of hedge funds have recently made changes to their positions in SKT. Salomon & Ludwin LLC acquired a new position in Tanger during the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC increased its holdings in Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 531 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Tanger during the third quarter valued at approximately $33,000. City Holding Co. bought a new stake in shares of Tanger in the 3rd quarter valued at approximately $34,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Tanger during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Performance

Shares of SKT stock opened at $37.39 on Wednesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 37.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The company has a 50 day moving average price of $34.03 and a 200 day moving average price of $33.64. Tanger has a one year low of $28.69 and a one year high of $37.95.

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.2925 per share. The ex-dividend date was Friday, January 30th. This represents a $1.17 annualized dividend and a yield of 3.1%. Tanger’s payout ratio is currently 117.00%.

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.