Tanger (SKT) Stock Price, News & Analysis

Company Overview

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. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 700 different brand name companies. Tanger is furnishing a Form 8-K with the Securities and Exchange Commission ("SEC") that includes a supplemental information package for the quarter and year ended December 31, 2023.

Key Stats

• Today's Range: $36.35 to $37.01
• 50-Day Range: $31.30 to $36.67
• 52-Week Range: $24.72 to $37.01
• Volume: 752,923 shs
• Average Volume: 739,190 shs
• Market Capitalization: $4.04 billion
• P/E Ratio: 42.44
• Dividend Yield: 3.01%
• Price Target: $34.86
• Consensus Rating: Moderate Buy

Tanger Stock Analysis - MarketRank™

Tanger scored higher than 82% of companies evaluated by MarketBeat, and ranked 245th out of 922 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Tanger has received a consensus rating of Moderate Buy. The company's average rating score is 2.57, and is based on 4 buy ratings, 3 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Tanger has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 5.21%

Earnings Growth

Earnings for Tanger are expected to grow by 5.21% in the coming year, from $2.11 to $2.22 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Tanger is 42.44, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 125.99.

Price to Earnings Ratio vs. Sector

The P/E ratio of Tanger is 42.44, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 45.77.

Price to Earnings Growth Ratio

Tanger has a PEG Ratio of 2.85. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Tanger has a P/B Ratio of 6.82. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

3.47% of the outstanding shares of Tanger have been sold short.

Short Interest Ratio / Days to Cover

Tanger has a short interest ratio ("days to cover") of 5.7.

Change versus previous month

Short interest in Tanger has recently decreased by 10.70%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Yield

Tanger pays a meaningful dividend of 3.01%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Tanger does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Tanger is 127.91%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on earnings estimates, Tanger will have a dividend payout ratio of 49.55% next year. This indicates that Tanger will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 0.6 / 5
• Environmental Score: -3.69

Percentage of Shares Shorted

3.47% of the outstanding shares of Tanger have been sold short.

Short Interest Ratio / Days to Cover

Tanger has a short interest ratio ("days to cover") of 5.7.

Change versus previous month

Short interest in Tanger has recently decreased by 10.70%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 2.7 / 5
• News Sentiment: 0.80

News Sentiment

Tanger has a news sentiment score of 0.80. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Finance companies.

News Coverage This Week

MarketBeat has tracked 6 news articles for Tanger this week, compared to 4 articles on an average week.

Search Interest

4 people have searched for SKT on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Tanger insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $108,810.00 in company stock.

Percentage Held by Insiders

Only 5.80% of the stock of Tanger is held by insiders.

Percentage Held by Institutions

85.23% of the stock of Tanger is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

SKT Stock Analysis - Frequently Asked Questions

How have SKT shares performed this year?

Tanger's stock was trading at $27.72 at the start of the year. Since then, SKT shares have increased by 31.7% and is now trading at $36.50.
View the best growth stocks for 2024 here.

How were Tanger's earnings last quarter?

Tanger Inc. (NYSE:SKT) posted its quarterly earnings results on Wednesday, November, 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by $0.31. The company's revenue was up 13.3% on a year-over-year basis.

Who are Tanger's major shareholders?

Tanger's top institutional shareholders include FMR LLC (6.80%), State Street Corp (5.74%), Wellington Management Group LLP (1.85%) and Charles Schwab Investment Management Inc. (1.78%). Insiders that own company stock include Steven B Tanger, Thomas Joseph Guerrieri Jr and Thomas Reddin.
View institutional ownership trends.

How do I buy shares of Tanger?

Shares of SKT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Tanger own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Tanger investors own include AT&T (T), NVIDIA (NVDA), Meta Platforms (META), AbbVie (ABBV), Exxon Mobil (XOM), Verizon Communications (VZ) and Delta Air Lines (DAL).

Company Calendar

• Ex-Dividend for 11/15 Dividend: 10/31/2024
• Last Earnings: 11/06/2024
• Dividend Payable: 11/15/2024
• Today: 11/22/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/20/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Real estate investment trusts
• Sub-Industry: Retail REITs
• Current Symbol: NYSE:SKT
• CUSIP: 87546510
• CIK: 899715
• Web: www.tangeroutlet.com
• Phone: (336) 292-3010
• Fax: 336-852-2096
• Employees: 364
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $34.86
• High Stock Price Target: $41.00
• Low Stock Price Target: $29.00
• Potential Upside/Downside: -4.5%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.57
• Research Coverage: 7 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.86
• Trailing P/E Ratio: 42.44
• Forward P/E Ratio: 17.30
• P/E Growth: 2.85
• Net Income: $99.15 million
• Net Margins: 18.55%
• Pretax Margin: 17.55%
• Return on Equity: 16.25%
• Return on Assets: 4.14%

Debt

• Debt-to-Equity Ratio: 2.40
• Current Ratio: 0.13
• Quick Ratio: 0.13

Sales & Book Value

• Annual Sales: $464.41 million
• Price / Sales: 8.70
• Cash Flow: $1.94 per share
• Price / Cash Flow: 18.80
• Book Value: $5.35 per share
• Price / Book: 6.82

Miscellaneous

• Outstanding Shares: 110,690,000
• Free Float: 104,273,000
• Market Cap: $4.04 billion
• Optionable: Optionable
• Beta: 1.88