Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) had its price target reduced by stock analysts at Evercore ISI from $17.00 to $15.00 in a note issued to investors on Tuesday, The Fly reports. Evercore ISI’s price target would indicate a potential upside of 10.13% from the stock’s current price.
Separately, Compass Point decreased their price objective on shares of Tanger Factory Outlet Centers from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd.
Tanger Factory Outlet Centers Trading Down 3.5 %
NYSE SKT opened at $13.62 on Tuesday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.54 and a current ratio of 2.54. The firm has a market cap of $1.42 billion, a PE ratio of 34.92, a P/E/G ratio of 0.96 and a beta of 1.77. Tanger Factory Outlet Centers has a one year low of $13.26 and a one year high of $22.51. The firm’s fifty day moving average is $15.85 and its two-hundred day moving average is $16.21.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.23). The business had revenue of $105.84 million during the quarter, compared to analyst estimates of $104.45 million. Tanger Factory Outlet Centers had a net margin of 9.75% and a return on equity of 8.55%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Analysts expect that Tanger Factory Outlet Centers will post 1.77 earnings per share for the current year.
Hedge Funds Weigh In On Tanger Factory Outlet Centers
A number of institutional investors have recently modified their holdings of the company. Intersect Capital LLC acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter valued at approximately $240,000. Captrust Financial Advisors acquired a new position in Tanger Factory Outlet Centers during the second quarter worth approximately $429,000. Legal & General Group Plc increased its position in Tanger Factory Outlet Centers by 1.5% during the second quarter. Legal & General Group Plc now owns 874,542 shares of the real estate investment trust’s stock worth $12,436,000 after purchasing an additional 13,251 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Tanger Factory Outlet Centers during the second quarter worth approximately $50,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in Tanger Factory Outlet Centers by 58.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 28,435 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 10,490 shares during the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.
Tanger Factory Outlet Centers Company Profile
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger’s operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.
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