Tanger (NYSE:SKT) PT Raised to $31.00 at Evercore ISI

Tanger (NYSE:SKT) had its price target boosted by investment analysts at Evercore ISI from $29.00 to $31.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective would suggest a potential downside of 2.21% from the company’s previous close.

A number of other brokerages have also recently issued reports on SKT. Compass Point upped their price target on shares of Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Scotiabank boosted their price objective on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Tanger has a consensus rating of “Hold” and a consensus target price of $31.33.

Tanger Stock Down 0.4 %

SKT stock traded down $0.13 during midday trading on Monday, hitting $31.70. The stock had a trading volume of 59,192 shares, compared to its average volume of 745,107. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13. The business has a 50-day moving average of $28.80 and a two-hundred day moving average of $28.15. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 3.21 and a beta of 1.89. Tanger has a 52-week low of $21.42 and a 52-week high of $32.05.

Institutional Investors Weigh In On Tanger

A number of institutional investors and hedge funds have recently bought and sold shares of SKT. Blue Trust Inc. grew its position in shares of Tanger by 1,412.1% during the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 819 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in Tanger during the second quarter valued at approximately $27,000. Whittier Trust Co. purchased a new stake in shares of Tanger during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC grew its holdings in shares of Tanger by 44.6% in the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 393 shares in the last quarter. Finally, CWM LLC increased its position in Tanger by 418.6% in the second quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 1,398 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

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.