Fintel reports that on May 17, 2024, Scotiabank upgraded their outlook for Tanger (NYSE:SKT) from Sector Underperform to Sector Perform.
Analyst Price Forecast Suggests 6.06% Upside
As of May 8, 2024, the average one-year price target for Tanger is 29.58. The forecasts range from a low of 20.20 to a high of $34.65. The average price target represents an increase of 6.06% from its latest reported closing price of 27.89.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Tanger is 433MM, a decrease of 11.15%. The projected annual non-GAAP EPS is 0.58.
What is the Fund Sentiment?
There are 647 funds or institutions reporting positions in Tanger. This is an increase of 5 owner(s) or 0.78% in the last quarter. Average portfolio weight of all funds dedicated to SKT is 0.19%, an increase of 2.57%. Total shares owned by institutions decreased in the last three months by 1.74% to 101,610K shares. 
The put/call ratio of SKT is 0.71, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 7,047K shares representing 6.44% ownership of the company. In its prior filing, the firm reported owning 7,103K shares , representing a decrease of 0.79%. The firm increased its portfolio allocation in SKT by 5.24% over the last quarter.
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 4,250K shares representing 3.89% ownership of the company. In its prior filing, the firm reported owning 4,338K shares , representing a decrease of 2.09%. The firm increased its portfolio allocation in SKT by 2.33% over the last quarter.
Wellington Management Group Llp holds 3,112K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 4,048K shares , representing a decrease of 30.07%. The firm decreased its portfolio allocation in SKT by 88.94% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,112K shares representing 2.85% ownership of the company. In its prior filing, the firm reported owning 3,065K shares , representing an increase of 1.51%. The firm increased its portfolio allocation in SKT by 11.29% over the last quarter.
IWM – iShares Russell 2000 ETF holds 2,722K shares representing 2.49% ownership of the company. In its prior filing, the firm reported owning 2,383K shares , representing an increase of 12.45%. The firm increased its portfolio allocation in SKT by 8.32% over the last quarter.
Tanger Factory Outlet Centers Background Information
(This description is provided by the company.)
Tanger Factory Outlet Centers, Inc. is a leading operator of upscale open-air outlet centers that owns, or has an ownership interest in, a portfolio of 36 centers. Tanger’s operating properties are located in 20 states and in Canada, totaling approximately 13.6 million square feet, leased to over 2,500 stores operated by more than 500 different brand name companies. The Company has more than 40 years of experience in the outlet industry and is a publicly-traded REIT.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
