Tanger (NYSE:SKT) Now Covered by Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Tanger (NYSE:SKT) in a research note issued on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $37.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 4.25% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Compass Point lifted their price objective on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, October 25th. Scotiabank lifted their price objective on Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. The Goldman Sachs Group lifted their price objective on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Evercore ISI lifted their price objective on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Citigroup boosted their price target on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.13.

Tanger Stock Performance

SKT opened at $35.49 on Tuesday. The business has a fifty day simple moving average of $35.17 and a 200 day simple moving average of $31.11. The company has a market capitalization of $3.93 billion, a PE ratio of 41.27, a price-to-earnings-growth ratio of 2.78 and a beta of 1.90. Tanger has a 1 year low of $25.67 and a 1 year high of $37.57. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share 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%. Tanger’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. Research analysts expect that Tanger will post 2.11 EPS for the current year.

Insider Buying and Selling

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total transaction of $108,810.00. Following the sale, the chief accounting officer now owns 59,641 shares in the company, valued at $2,163,179.07. The trade was a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tanger

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Tanger by 1,412.1% during the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 819 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of Tanger in the 2nd quarter valued at about $27,000. Whittier Trust Co. bought a new stake in shares of Tanger in the 2nd quarter valued at about $33,000. CWM LLC grew its position in shares of Tanger by 418.6% in the 2nd quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 1,398 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tanger in the 2nd quarter valued at about $49,000. Institutional investors own 85.23% of the company’s stock.

About Tanger

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.