2 weeks Ago By ABMN Staff
Tanger ( NYSE:SKT – Get Free Report ) had its price target reduced by stock analysts at Scotiabank from $38.00 to $33.00 in a report issued on Wednesday, Benzinga reports.
The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 3.51% from the stock’s current price.
Other research analysts also recently issued reports about the stock. The Goldman Sachs Group upgraded shares of Tanger from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $40.
00 in a research report on Friday, March 28th. BMO Capital Markets began coverage on Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.
00 price target on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.
com, Tanger has an average rating of “Moderate Buy” and a consensus target price of $37.00. Get Our Latest Stock Report on SKT Tanger Stock Performance Tanger ( NYSE:SKT – Get Free Report ) last posted its quarterly earnings data on Wednesday, February 19th.
The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.
02. Tanger had a net margin of 18.65% and a return on equity of 16.
16%. The business had revenue of $132.17 million during the quarter, compared to analysts’ expectations of $129.
10 million. As a group, equities analysts anticipate that Tanger will post 2.24 EPS for the current fiscal year.
Insider Buying and Selling In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value of $404,750.
00. Following the completion of the transaction, the chief operating officer now owns 113,158 shares in the company, valued at $3,664,056.04.
This trade represents a 9.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink .
5.70% of the stock is currently owned by corporate insiders. Hedge Funds Weigh In On Tanger Several institutional investors and hedge funds have recently added to or reduced their stakes in the business.
Mutual of America Capital Management LLC lifted its holdings in shares of Tanger by 1.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 319 shares during the period.
Maryland State Retirement & Pension System grew its position in shares of Tanger by 0.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust’s stock valued at $1,272,000 after buying an additional 349 shares during the last quarter.
FIL Ltd increased its stake in shares of Tanger by 16.2% in the fourth quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 401 shares during the period.
DAVENPORT & Co LLC raised its position in shares of Tanger by 1.4% during the fourth quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust’s stock worth $1,074,000 after acquiring an additional 425 shares during the last quarter.
Finally, Pictet Asset Management Holding SA lifted its stake in shares of Tanger by 1.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 32,851 shares of the real estate investment trust’s stock worth $1,121,000 after acquiring an additional 480 shares during the period.
85.23% of the stock is currently owned by institutional investors and hedge funds. 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.S. See Also Receive News & Ratings for Tanger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger and related companies with MarketBeat.
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