Shares of Tanger Inc. (NYSE:SKT – Get Free Report) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $32.00.
A number of analysts recently weighed in on SKT shares. Bank of America increased their price target on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Scotiabank raised their target price 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. Compass Point raised their target price on shares of Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Evercore ISI raised their target price on shares of Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a report on Monday, September 16th.
Read Our Latest Stock Analysis on Tanger
Tanger Stock Performance
Tanger Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.20%. Tanger’s dividend payout ratio is currently 122.22%.
Hedge Funds Weigh In On Tanger
Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of Tanger by 1,412.1% during the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 819 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Tanger during the 2nd quarter worth approximately $27,000. Whittier Trust Co. bought a new position in shares of Tanger during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC grew 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 worth $35,000 after acquiring an additional 393 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Tanger by 418.6% during the 2nd quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,398 shares in the last quarter. 85.23% of the stock is owned by 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.
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