2 weeks Ago By Defense World 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 note issued to investors on Monday, Marketbeat.com reports. The firm currently has a $40.
00 price objective on the real estate investment trust’s stock, up from their previous price objective of $35.00. Bank of America ‘s target price would indicate a potential upside of 11.
30% from the stock’s previous close. A number of other brokerages have also recently commented on SKT. Evercore ISI raised their price objective on shares of Tanger from $31.
00 to $33.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Compass Point increased their price target on shares of Tanger from $34.
00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Scotiabank lifted their price objective on shares of Tanger from $28.
00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock.
Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.
View Our Latest Report on Tanger Tanger Trading Down 0.4 % Tanger ( NYSE:SKT – Get Free Report ) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.
22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 18.55% and a return on equity of 16.25%.
The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.
50 EPS. Research analysts forecast that Tanger will post 2.1 earnings per share for the current year.
Institutional Trading of Tanger Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Tanger by 44.6% in the 2nd quarter.
GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 393 shares during the last quarter. EMC Capital Management boosted its stake in shares of Tanger by 5.1% in the first 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 last quarter. American International Group Inc. increased its position in shares of Tanger by 1.
5% during the first quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock worth $1,671,000 after purchasing an additional 813 shares in the last quarter.
Blue Trust Inc. raised its stake in Tanger by 1,412.1% in the 2nd quarter.
Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 819 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Tanger by 31.
5% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 881 shares in the last quarter. Hedge funds and other institutional investors own 85.
23% of the company’s stock. Tanger Company Profile ( 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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