Tanger (NYSE:SKT) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Stock analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger (NYSE:SKT - Get Free Report) in a research note issued on Tuesday, Marketbeat.com reports. The firm set a "hold" rating and a $37.00 price target on the real estate investment trust's stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 4.51% from the stock's previous close.

SKT has been the topic of a number of other research reports. The Goldman Sachs Group raised their price target on Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Evercore ISI raised their price target on Tanger from $31.00 to $33.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Compass Point increased their price objective on Tanger from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Bank of America raised Tanger from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Finally, Citigroup increased their price objective on Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.13.

Tanger Stock Down 0.3 %

Shares of SKT traded down $0.09 during mid-day trading on Tuesday, reaching $35.41. The company's stock had a trading volume of 756,964 shares, compared to its average volume of 728,236. Tanger has a 12-month low of $25.67 and a 12-month high of $37.57. The stock has a market cap of $3.92 billion, a PE ratio of 41.07, a price-to-earnings-growth ratio of 2.78 and a beta of 1.90. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. The company's 50 day moving average is $35.17 and its 200 day moving average is $31.11.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.31). The firm had revenue of $133.00 million for the quarter, compared to analysts' expectations of $125.80 million. Tanger had a return on equity of 16.25% and a net margin of 18.55%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Equities analysts anticipate that Tanger will post 2.11 EPS for the current fiscal year.

Insider Activity at Tanger

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the transaction, the chief accounting officer now directly owns 59,641 shares of the company's stock, valued at $2,163,179.07. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tanger

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in shares of Tanger by 2.3% in the third quarter. Franklin Resources Inc. now owns 95,286 shares of the real estate investment trust's stock worth $3,205,000 after acquiring an additional 2,169 shares during the last quarter. Vestcor Inc raised its holdings in shares of Tanger by 3.3% in the third quarter. Vestcor Inc now owns 98,215 shares of the real estate investment trust's stock worth $3,259,000 after acquiring an additional 3,177 shares during the last quarter. Barclays PLC raised its holdings in shares of Tanger by 174.7% in the third quarter. Barclays PLC now owns 240,281 shares of the real estate investment trust's stock worth $7,973,000 after acquiring an additional 152,796 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Tanger by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 157,260 shares of the real estate investment trust's stock worth $5,218,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Tanger by 48.5% in the third quarter. Stifel Financial Corp now owns 67,402 shares of the real estate investment trust's stock valued at $2,236,000 after purchasing an additional 22,002 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

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.