Tanger (NYSE:SKT) Hits New 12-Month High After Dividend Announcement

Tanger Inc. (NYSE:SKT)’s share price reached a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $41.57 and last traded at $41.4850, with a volume of 414783 shares traded. The stock had previously closed at $40.26.

The newly announced dividend which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.3125 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.0%. Tanger’s payout ratio is currently 116.82%.

Wall Street Analyst Weigh In

SKT has been the subject of several recent analyst reports. Bank of America reiterated an “underperform” rating and set a $38.00 price target on shares of Tanger in a research note on Tuesday, June 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Barclays upped their target price on Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Finally, UBS Group set a $41.00 price target on Tanger in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.70.

Tanger Trading Up 3.5%

The company has a debt-to-equity ratio of 2.67, a quick ratio of 3.36 and a current ratio of 3.36. The company has a 50-day simple moving average of $38.11 and a 200 day simple moving average of $36.00. The company has a market capitalization of $4.78 billion, a P/E ratio of 38.93, a P/E/G ratio of 2.06 and a beta of 1.09.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The business had revenue of $150.42 million for the quarter, compared to analyst estimates of $142.94 million. Tanger had a return on equity of 17.53% and a net margin of 20.76%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Sell-side analysts expect that Tanger Inc. will post 2.48 earnings per share for the current year.

Institutional Trading of Tanger

A number of hedge funds have recently bought and sold shares of the stock. SHP Wealth Management bought a new position in shares of Tanger during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC raised its position in shares of Tanger by 127.3% during 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. Fifth Third Bancorp raised its position in shares of Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 293 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Tanger in the third quarter valued at about $33,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Tanger in the fourth quarter valued at about $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.