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

Shares of Tanger Inc. (NYSE:SKT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $36.63.

SKT has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded Tanger from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $39.00 to $40.00 in a report on Friday, March 28th. BMO Capital Markets began coverage on shares of Tanger in a report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Tanger in a report on Tuesday, December 17th. They set a "hold" rating and a $37.00 price objective for the company.

Insider Transactions at Tanger

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the completion of the transaction, the chief operating officer now directly owns 113,158 shares of the company's stock, valued at approximately $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.80% of the company's stock.

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Hedge Funds Weigh In On Tanger

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKT. NBC Securities Inc. purchased a new position in shares of Tanger in the 1st quarter worth approximately $30,000. Aster Capital Management DIFC Ltd grew its holdings in Tanger by 232.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 733 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Tanger during the fourth quarter worth $68,000. Coppell Advisory Solutions LLC lifted its holdings in shares of Tanger by 144.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 1,399 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Tanger by 24.9% in the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Tanger Trading Up 0.6 %

SKT stock traded up $0.20 during mid-day trading on Friday, reaching $32.05. 1,068,555 shares of the stock traded hands, compared to its average volume of 765,421. Tanger has a one year low of $25.94 and a one year high of $37.57. The stock has a market capitalization of $3.63 billion, a PE ratio of 36.83, a PEG ratio of 2.97 and a beta of 1.49. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44. The business has a 50-day moving average price of $33.29 and a two-hundred day moving average price of $34.01.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The company 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%. Equities research analysts expect that Tanger will post 2.24 EPS for the current year.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.2925 per share. This is an increase from Tanger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 3.65%. Tanger's dividend payout ratio (DPR) is 134.48%.

About Tanger

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.