Barclays Has Lowered Expectations for Tanger (NYSE:SKT) Stock Price

by · The Cerbat Gem

Tanger (NYSE:SKT – Get Free Report) had its price target cut by Barclays from $42.00 to $41.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 17.62% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Scotiabank boosted their price target on Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Evercore set a $39.00 price objective on Tanger in a research note on Tuesday, July 7th. UBS Group set a $41.00 target price on Tanger in a research report on Thursday, June 18th. BMO Capital Markets boosted their target price on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tanger currently has an average rating of “Hold” and an average target price of $40.18.

Get Our Latest Analysis on Tanger

Tanger Stock Performance

Shares of Tanger stock opened at $34.86 on Monday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65. The company has a market cap of $4.00 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. The company has a 50 day moving average of $38.11 and a 200-day moving average of $37.51. Tanger has a 1-year low of $31.13 and a 1-year high of $42.53.

Tanger (NYSE:SKT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The business had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. During the same period last year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, equities research analysts forecast that Tanger will post 2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tanger

Several large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its holdings in Tanger by 1.8% in the second quarter. Envestnet Asset Management Inc. now owns 70,962 shares of the real estate investment trust’s stock valued at $2,801,000 after purchasing an additional 1,279 shares during the period. State Street Corp lifted its holdings in Tanger by 0.5% during the 2nd quarter. State Street Corp now owns 6,519,128 shares of the real estate investment trust’s stock worth $257,310,000 after buying an additional 30,825 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Tanger by 8.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,328 shares of the real estate investment trust’s stock worth $2,144,000 after buying an additional 4,296 shares during the period. Tidal Investments LLC bought a new stake in shares of Tanger in the 2nd quarter valued at about $941,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Tanger in the 2nd quarter valued at about $659,000. Institutional investors own 85.23% of the company’s stock.

About Tanger

(Get Free Report)

Tanger Inc (NYSE: SKT) is a real estate investment trust that owns, operates and develops open-air outlet and shopping centers. Its properties are designed to serve value-conscious consumers and include a mix of national and regional retailers across apparel, footwear, home goods, dining and other consumer categories.

The company’s primary business activities include leasing retail space, managing shopping-center operations and maintaining tenant relationships. Tanger’s portfolio serves shoppers in the United States and Canada, with properties generally located near major metropolitan areas, tourist destinations and high-traffic travel corridors.

Founded in 1981 by Stanley K.

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