2 weeks Ago By ABMN Staff
Tanger ( NYSE:SKT – Get Free Report ) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat.com reports. The firm currently has a $40.
00 target price on the real estate investment trust’s stock, up from their previous target price of $35.00. Bank of America ‘s target price suggests a potential upside of 11.
30% from the company’s previous close. Several other research firms have also recently weighed in on SKT. Compass Point increased their price target on shares of Tanger from $34.
00 to $36.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Scotiabank increased their price objective on Tanger from $28.
00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Evercore ISI raised their target price on Tanger from $31.
00 to $33.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock.
According to data from MarketBeat, Tanger presently has an average rating of “Moderate Buy” and an average price target of $33.50. View Our Latest Report on SKT Tanger Price Performance Tanger ( NYSE:SKT – Get Free Report ) last issued its earnings results on Wednesday, November 6th.
The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.
31). The company had revenue of $133.00 million during the quarter, compared to analyst estimates of $125.
80 million. Tanger had a return on equity of 16.25% and a net margin of 18.
55%. The firm’s revenue was up 13.3% compared to the same quarter last year.
During the same period last year, the business earned $0.50 earnings per share. Equities research analysts expect that Tanger will post 2.
1 EPS for the current fiscal year. Hedge Funds Weigh In On Tanger Several institutional investors have recently modified their holdings of SKT. Vanguard Group Inc.
grew its stake in Tanger by 3.6% during the 1st quarter. Vanguard Group Inc.
now owns 17,456,758 shares of the real estate investment trust’s stock worth $515,498,000 after purchasing an additional 608,547 shares in the last quarter. Land & Buildings Investment Management LLC raised its holdings in Tanger by 52.4% in the second quarter.
Land & Buildings Investment Management LLC now owns 1,043,287 shares of the real estate investment trust’s stock valued at $28,284,000 after acquiring an additional 358,860 shares in the last quarter. BROOKFIELD Corp ON purchased a new position in Tanger in the first quarter worth approximately $10,441,000. Burney Co.
acquired a new position in Tanger during the 1st quarter worth approximately $7,158,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Tanger in the 2nd quarter valued at approximately $4,539,000. Institutional investors and hedge funds own 85.
23% of the company’s stock. About Tanger ( Get Free Report ) 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.
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