Tanger Inc. (NYSE:SKT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Tanger Inc. (NYSE:SKT) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $36.00.

A number of research analysts recently issued reports on SKT shares. Barclays reiterated a “positive” rating and issued a $36.00 price objective on shares of Tanger in a report on Tuesday, January 13th. Citigroup reiterated a “neutral” rating and set a $35.00 price target (down previously from $38.00) on shares of Tanger in a report on Wednesday, November 19th. Evercore boosted their price objective on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. Scotiabank raised their target price on Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, January 21st.

Tanger Price Performance

Shares of SKT opened at $33.86 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.20. The stock has a market cap of $3.90 billion, a PE ratio of 36.02, a PEG ratio of 1.48 and a beta of 1.18. Tanger has a 12-month low of $28.69 and a 12-month high of $36.76. The business has a 50-day simple moving average of $33.47 and a two-hundred day simple moving average of $33.24.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.2925 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.17 annualized dividend and a yield of 3.5%. Tanger’s dividend payout ratio is presently 124.47%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Tanger by 2.8% during the first quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock worth $4,905,000 after buying an additional 3,995 shares during the period. AQR Capital Management LLC raised its position in shares of Tanger by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock worth $1,291,000 after acquiring an additional 5,765 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Tanger by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock valued at $2,171,000 after purchasing an additional 3,631 shares during the period. United Services Automobile Association bought a new stake in shares of Tanger during the 1st quarter valued at about $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Tanger by 436.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock worth $27,073,000 after purchasing an additional 651,961 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

About Tanger

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.