Tanger (NYSE:SKT) Price Target Raised to $33.00 at Evercore ISI

Tanger (NYSE:SKT - Free Report) had its price target increased by Evercore ISI from $31.00 to $33.00 in a report issued on Thursday,Benzinga reports. The firm currently has an in-line rating on the real estate investment trust's stock.

A number of other analysts have also issued reports on the company. Scotiabank boosted their price objective on Tanger from $28.00 to $30.00 and gave the company a "sector perform" rating in a research note on Monday, August 26th. Bank of America increased their price target on shares of Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, October 11th. Finally, Compass Point boosted their price objective on shares of Tanger from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

Tanger Stock Performance

SKT stock traded up $1.63 during midday trading on Thursday, reaching $35.43. 1,465,849 shares of the company's stock traded hands, compared to its average volume of 733,141. The firm has a market capitalization of $3.87 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 2.84 and a beta of 1.88. The company has a 50-day moving average price of $32.68 and a two-hundred day moving average price of $29.45. Tanger has a 52 week low of $23.82 and a 52 week high of $35.83. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.13 and a current ratio of 0.13.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, October 31st. Tanger's dividend payout ratio (DPR) is 122.22%.

Institutional Investors Weigh In On Tanger

Several hedge funds have recently bought and sold shares of SKT. Blue Trust Inc. boosted its holdings in shares of Tanger by 1,412.1% in the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 819 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in Tanger during the second quarter valued at approximately $27,000. Whittier Trust Co. purchased a new position in shares of Tanger during the second quarter worth approximately $33,000. GAMMA Investing LLC lifted its holdings in shares of Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 393 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Tanger by 418.6% in the second quarter. CWM LLC now owns 1,732 shares of the real estate investment trust's stock worth $47,000 after buying an additional 1,398 shares during the period. 85.23% of the stock is currently owned by institutional investors.

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.