Tanger (NYSE:SKT) PT Raised to $34.00 at Compass Point

Tanger (NYSE:SKT) had its price target hoisted by stock analysts at Compass Point from $32.00 to $34.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Compass Point’s target price indicates a potential upside of 7.77% from the company’s previous close.

SKT has been the subject of a number of other reports. Scotiabank raised their price objective on shares of Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Evercore ISI boosted their price objective on shares of Tanger from $28.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.00.

Tanger Stock Up 2.1 %

NYSE:SKT opened at $31.55 on Wednesday. The firm has a market cap of $3.45 billion, a P/E ratio of 34.54, a P/E/G ratio of 3.17 and a beta of 1.89. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.13 and a current ratio of 0.13. Tanger has a fifty-two week low of $21.42 and a fifty-two week high of $31.60. The firm has a 50-day simple moving average of $28.57 and a two-hundred day simple moving average of $28.11.

Institutional Trading of Tanger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. increased its holdings in Tanger by 9.1% during the second quarter. Dana Investment Advisors Inc. now owns 67,102 shares of the real estate investment trust’s stock valued at $1,819,000 after buying an additional 5,583 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Tanger during the second quarter valued at approximately $3,462,000. NewEdge Advisors LLC increased its holdings in Tanger by 48.4% during the second quarter. NewEdge Advisors LLC now owns 75,769 shares of the real estate investment trust’s stock valued at $2,054,000 after buying an additional 24,724 shares during the last quarter. Algert Global LLC increased its holdings in Tanger by 256.6% during the second quarter. Algert Global LLC now owns 85,881 shares of the real estate investment trust’s stock valued at $2,328,000 after buying an additional 61,801 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Tanger by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 59,460 shares of the real estate investment trust’s stock valued at $1,612,000 after buying an additional 3,184 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Company Profile

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.