Tanger Inc. [SKT] stock is trading at $29.40, down -0.17%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The SKT shares have gain 2.05% over the last week, with a monthly amount glided 11.91%, and seem to be holding up well over a long-time horizon.
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On 27, February 2024, Tanger to Present at Citi’s 2024 Global Property CEO Conference. In a post published today on Yahoo Finance, Tanger® (NYSE: SKT), a leading owner and operator of outlet and open-air retail shopping destinations, announced today that it will participate in Citi’s 2024 Global Property CEO Conference from March 4 through March 6, 2024. Stephen Yalof, President and Chief Executive Officer, and Michael Bilerman, Executive Vice President, Chief Financial Officer and Chief Investment Officer, will participate in a round table presentation scheduled for 3:35 p.m. Eastern Time on Tuesday, March 5, 2024. A live audio webcast can be accessed at investors.tanger.com. A replay will be available through Friday, March 15, 2024 and can also be accessed via the company’s website.
From an analyst’s perspective:
Tanger Inc. [NYSE: SKT] stock has seen the most recent analyst activity on December 18, 2023, when JP Morgan upgraded its rating to a Overweight and also boosted its price target to $29 from $27. Previously, Compass Point downgraded its rating to Neutral on November 08, 2023, and kept the price target unchanged to $26. On October 12, 2023, upgrade upgraded it’s rating to Neutral and revised its price target to $25 on the stock. Goldman downgraded its rating to a Neutral but stick to its price target of $26 on August 16, 2023. Compass Point upgraded its rating to a Buy and raised its price target to $26 on August 07, 2023. In a note dated January 30, 2023, Compass Point downgraded an Neutral rating on this stock but restated the target price of $21.
Tanger Inc. [SKT] stock has fluctuated between $17.22 and $29.98 over the past year. Currently, Wall Street analysts expect the stock to reach $26 within the next 12 months. Tanger Inc. [NYSE: SKT] shares were valued at $29.40 at the most recent close of the market. An investor can expect a potential drop of -11.56% based on the average SKT price forecast.
Analyzing the SKT fundamentals
Tanger Inc. [NYSE:SKT] reported sales of 464.35M for the trailing twelve months, which represents a growth of 9.46%. Gross Profit Margin for this corporation currently stands at 0.62% with Operating Profit Margin at 0.36%, Pretax Profit Margin comes in at 0.22%, and Net Profit Margin reading is 0.21%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.2 and Total Capital is 0.08. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 2.56.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 29.16 points at the first support level, and at 28.91 for the second support level. However, for the 1st resistance point, the stock is sitting at 29.66, and for the 2nd resistance point, it is at 29.91.
Tanger Inc. [SKT] reported earnings per share of $0.22 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.21/share, meaning a difference of $0.01 and a surprise factor of 4.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.26 per share as compared to estimates of $0.19 per share, a difference of $0.07 representing a surprise of 36.80%.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 6.90, the price to book ratio is 5.64 and price to earnings (TTM) ratio is 31.93.
Transactions by insiders
Recent insider trading involved REDDIN THOMAS, Director, that happened on Feb 21 ’24 when 5000.0 shares were sold. Executive Chair of the Board, TANGER STEVEN B completed a deal on Dec 04 ’23 to sell 0.15 million shares. Meanwhile, Executive Chair of the Board TANGER STEVEN B sold 10788.0 shares on Dec 01 ’23.
