Compass Point Raises Tanger (NYSE:SKT) Price Target to $34.00

Tanger (NYSE:SKT) had its price target boosted by Compass Point from $32.00 to $34.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the stock. Scotiabank boosted their price target on shares of Tanger from $28.00 to $30.00 and gave the stock a sector perform rating in a report on Monday, August 26th. Evercore ISI boosted their price target on shares of Tanger from $28.00 to $29.00 and gave the stock an in-line rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $31.00.

Tanger Trading Up 0.9 %

NYSE:SKT opened at $31.83 on Wednesday. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a 50-day moving average of $28.68 and a 200-day moving average of $28.14. The company has a market cap of $3.48 billion, a PE ratio of 34.89, a PEG ratio of 3.14 and a beta of 1.89. Tanger has a one year low of $21.42 and a one year high of $32.05.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Wednesday, July 31st. Tanger’s payout ratio is 120.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Tanger by 44.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 393 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Tanger by 1.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 38,802 shares of the real estate investment trust’s stock valued at $1,146,000 after buying an additional 512 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Tanger by 6.1% during the 4th quarter. M&T Bank Corp now owns 10,019 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 573 shares in the last quarter. Albert D Mason Inc. increased its holdings in Tanger by 0.8% during the 1st quarter. Albert D Mason Inc. now owns 80,811 shares of the real estate investment trust’s stock worth $2,386,000 after acquiring an additional 654 shares during the period. Finally, EMC Capital Management increased its holdings in Tanger by 5.1% during the 1st quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock worth $422,000 after acquiring an additional 697 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.