Tanger Inc. (NYSE:SKT) Given Consensus Recommendation of "Hold" by Analysts

Shares of Tanger Inc. (NYSE:SKT - Get Free Report) have been given an average rating of "Hold" by the eight brokerages that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $36.00.

Several research analysts have recently issued reports on the company. BMO Capital Markets began coverage on Tanger in a research note on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a "hold" rating and a $37.00 target price on the stock.

Insiders Place Their Bets

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the transaction, the chief operating officer now owns 113,158 shares of the company's stock, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by company insiders.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. KBC Group NV increased its stake in Tanger by 31.5% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock valued at $122,000 after buying an additional 881 shares during the period. Metis Global Partners LLC increased its stake in shares of Tanger by 29.7% in the third quarter. Metis Global Partners LLC now owns 11,261 shares of the real estate investment trust's stock worth $374,000 after acquiring an additional 2,577 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Tanger by 55.3% during the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust's stock worth $2,393,000 after acquiring an additional 25,683 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Tanger by 13.6% during the third quarter. Thrivent Financial for Lutherans now owns 418,712 shares of the real estate investment trust's stock valued at $13,893,000 after purchasing an additional 50,100 shares during the last quarter. Finally, Quest Partners LLC boosted its position in Tanger by 6.9% during the third quarter. Quest Partners LLC now owns 32,891 shares of the real estate investment trust's stock valued at $1,091,000 after purchasing an additional 2,111 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Stock Performance

SKT stock traded up $0.51 during mid-day trading on Wednesday, reaching $32.72. The company had a trading volume of 806,980 shares, compared to its average volume of 678,790. Tanger has a one year low of $25.94 and a one year high of $37.57. The stock has a market capitalization of $3.69 billion, a P/E ratio of 37.61, a P/E/G ratio of 2.97 and a beta of 1.88. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The stock's 50-day simple moving average is $33.68 and its two-hundred day simple moving average is $33.93.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $132.17 million for the quarter, compared to the consensus estimate of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. Research analysts anticipate that Tanger will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Friday, January 31st. Tanger's payout ratio is 126.44%.

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.