Tanger (NYSE:SKT) Hits New 1-Year High – Should You Buy?

Tanger Inc. (NYSE:SKT)’s share price reached a new 52-week high on Tuesday . The company traded as high as $37.98 and last traded at $38.1550, with a volume of 43431 shares. The stock had previously closed at $37.04.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SKT. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Barclays upped their price target on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Evercore set a $37.00 price target on shares of Tanger in a report on Friday, May 1st. Scotiabank upped their price target on shares of Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Finally, Compass Point cut 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. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.43.

Tanger Stock Performance

The company has a market capitalization of $4.55 billion, a PE ratio of 37.02, a PEG ratio of 1.87 and a beta of 1.11. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67. The firm’s 50-day simple moving average is $36.17 and its 200-day simple moving average is $34.83.

Tanger (NYSE:SKT) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). The company had revenue of $150.42 million during 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%. Tanger’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, research analysts predict that Tanger Inc. will post 2.46 earnings per share for the current year.

Tanger Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, April 30th. This is a boost from Tanger’s previous quarterly dividend of $0.29. Tanger’s dividend payout ratio is currently 116.82%.

Institutional Investors Weigh In On Tanger

Several hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC lifted its position in shares of Tanger by 17.0% in the 1st quarter. NewEdge Advisors LLC now owns 118,911 shares of the real estate investment trust’s stock worth $4,041,000 after purchasing an additional 17,297 shares during the period. Bank of America Corp DE lifted its position in shares of Tanger by 27.8% in the 1st quarter. Bank of America Corp DE now owns 446,687 shares of the real estate investment trust’s stock worth $15,178,000 after purchasing an additional 97,100 shares during the period. Edgestream Partners L.P. raised its stake in shares of Tanger by 3.7% during the 1st quarter. Edgestream Partners L.P. now owns 17,509 shares of the real estate investment trust’s stock worth $595,000 after acquiring an additional 629 shares in the last quarter. Amundi raised its stake in shares of Tanger by 14.7% during the 1st quarter. Amundi now owns 82,964 shares of the real estate investment trust’s stock worth $2,819,000 after acquiring an additional 10,648 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Tanger by 49.2% during the 1st quarter. California State Teachers Retirement System now owns 150,941 shares of the real estate investment trust’s stock worth $5,129,000 after acquiring an additional 49,808 shares in the last quarter. Hedge funds and other 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.