Tanger (NYSE:SKT) Issues Quarterly Earnings Results

Tanger (NYSE:SKT) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04, Zacks reports. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The firm had revenue of $148.27 million for the quarter, compared to analysts’ expectations of $142.58 million. During the same period in the previous year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Tanger updated its FY 2026 guidance to 2.450-2.520 EPS.

Tanger Stock Performance

Shares of SKT stock traded down $0.25 on Wednesday, reaching $40.47. The stock had a trading volume of 77,285 shares, compared to its average volume of 983,135. Tanger has a 12 month low of $31.13 and a 12 month high of $42.53. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 2.08 and a beta of 1.10. The firm’s 50-day moving average is $39.60 and its two-hundred day moving average is $36.70. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, July 31st. Tanger’s dividend payout ratio is presently 116.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SKT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research report on Friday, July 17th. LADENBURG THALM/SH SH increased their price target on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. UBS Group set a $41.00 price target on Tanger in a research note on Thursday, June 18th. Evercore set a $39.00 price target on Tanger in a research report on Tuesday, July 7th. Finally, Bank of America reiterated an “underperform” rating and set a $38.00 price objective on shares of Tanger in a research note on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.70.

Hedge Funds Weigh In On Tanger

A number of institutional investors have recently bought and sold shares of SKT. EverSource Wealth Advisors LLC raised its stake in Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 531 shares during the period. Advisory Services Network LLC bought a new position in shares of Tanger during the 3rd quarter worth approximately $33,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Tanger during the 4th quarter worth approximately $41,000. Quarry LP acquired a new position in shares of Tanger during the 3rd quarter worth approximately $49,000. Finally, Johnson Financial Group Inc. bought a new stake in Tanger in the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Company Profile

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.