Tanger (NYSE:SKT) Given New $37.00 Price Target at Scotiabank

Tanger (NYSE:SKT) had its target price upped by equities research analysts at Scotiabank from $36.00 to $37.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 4.94% from the stock’s current price.

Several other brokerages have also issued reports on SKT. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Monday, April 20th. Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research report on Thursday, February 26th. Evercore set a $37.00 price objective on Tanger in a research note on Friday, May 1st. Barclays lifted their target price on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Bank of America reissued a “neutral” rating and set a $39.00 price target on shares of Tanger in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Tanger presently has a consensus rating of “Hold” and a consensus price target of $37.43.

Tanger Price Performance

NYSE SKT opened at $35.26 on Tuesday. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 1.67 and a beta of 1.14. Tanger has a 1-year low of $28.69 and a 1-year high of $37.95. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. The business’s fifty day moving average price is $35.68 and its 200-day moving average price is $34.49.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The firm had revenue of $150.42 million for the quarter, compared to analysts’ expectations of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities analysts predict that Tanger will post 2.46 earnings per share for the current year.

Institutional Trading of Tanger

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKT. Allspring Global Investments Holdings LLC increased its holdings in Tanger by 31.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock valued at $5,124,000 after acquiring an additional 37,163 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Tanger by 736.7% during the 3rd quarter. Truist Financial Corp now owns 61,533 shares of the real estate investment trust’s stock valued at $2,082,000 after purchasing an additional 54,179 shares during the last quarter. American Century Companies Inc. grew its position in shares of Tanger by 1,459.4% during the third quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock valued at $26,662,000 after purchasing an additional 737,354 shares in the last quarter. Elo Mutual Pension Insurance Co grew its position in shares of Tanger by 131.6% during the third quarter. Elo Mutual Pension Insurance Co now owns 35,714 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 20,292 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Tanger by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 984,836 shares of the real estate investment trust’s stock worth $33,327,000 after purchasing an additional 207,199 shares during the last quarter. Institutional investors 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.