Tanger Inc. (NYSE:SKT – Get Free Report)’s share price reached a new 52-week high during trading on Thursday after Compass Point raised their price target on the stock from $32.00 to $34.00. Compass Point currently has a buy rating on the stock. Tanger traded as high as $31.41 and last traded at $31.40, with a volume of 138890 shares traded. The stock had previously closed at $30.91.
Other research analysts also recently issued research reports about the company. Scotiabank boosted their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Evercore ISI upped their price objective on shares of Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tanger has a consensus rating of “Hold” and a consensus target price of $31.00.
Read Our Latest Stock Analysis on SKT
Institutional Investors Weigh In On Tanger
Tanger Stock Performance
The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 3.14 and a beta of 1.89. The stock has a 50 day moving average of $28.68 and a 200 day moving average of $28.14. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.53.
Tanger Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Wednesday, July 31st. Tanger’s dividend payout ratio is currently 120.88%.
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.
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