Tanger Factory Outlet Centers Inc. (NYSE:SKT) does about 712.34K shares in volume on a normal day but saw 1939662 shares change hands in Monday trading. The company now has a market cap of 1.86B USD. Its current market price is $18.28, marking a decrease of -0.27% compared to the previous close of $18.33. The 52 week high reached by this stock is $19.91 whilst the lowest price level in 52 weeks is $13.26. The script in recent trading has seen the stock touch a high of $18.45 and a low of $18.10.
Tanger Factory Outlet Centers Inc. (SKT) has a 20-day trading average at $18.06 and the current price is -8.19% off the 52-week high compared with 37.91% distance from its 52-week low. The 50-day simple moving average of the closing price is $18.65 and its 200-day simple moving average is $16.78. If we look at the stock’s price movements over the week, volatility stands at 2.15%, which increases to 2.34% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 50.67 to suggest the stock is neutral.
8 analysts observing the Tanger Factory Outlet Centers Inc. (SKT) stock have set the 12-month price targets for the company’s shares at between $14.00 and $21.00. The consensus objective for the share price is $18.17, suggesting that the stock has a potential downside of -0.61% over the period. The median price target is 1.19% away from the current levels at $18.50.
FactSet Research has provided data showing that 8 brokerages have issued ratings for the stock. 2 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 3 have advised that investors hold their positions. The consensus recommendation rating is Underweight and Wall Street’s advice is for investors to Hold the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 05, 2021 when Evercore ISI upgraded the stock to “In-line” and issued a price target of between $17 and $22. Compass Point also upgraded the stock to “Buy” from Neutral on November 03, 2021 at a price target of $23. Goldman downgraded its price target at $11-$12.50.
The current price level is 1.20%, -2.03%, and 8.98% away from its SMA20, SMA50, and SMA200 respectively, with the SKT price moving above the 50-day SMA on January 23. Tanger Factory Outlet Centers Inc. (SKT) stock is down -1.03% over the week and 1.33% over the past month. Its price is 1.90% year-to-date and 1.11% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.22 above consensus estimates by $0.05. The company’s next earnings report is expected on 05/03/2023, with forecasts estimating quarterly EPS at $0.18 and $0.78 for whole year. SKT’s earnings per share are forecast to grow by 875.00% this year and -2.60% over next year. Expected sales for next quarter are $109.47 million, which analysts say will come at $429.95 million for the current fiscal year and next year at $436.04 million. In addition, estimates put the company’s current quarterly revenue at an average of $109.01 million.
To reach the target analysts have set, the stock logically needs to shrink -0.61 percent from here.
Outstanding shares total 103.75M with insiders holding 2.54% of the shares and institutional holders owning 77.43% of the company’s common stock. The company has a return on investment of 2.90% and return on equity of 15.60%. The price to earnings ratio (P/E ratio) amounts to 25.39 while the forward price to earnings ratio is 24.15. The beta has a value of 1.78. Price to book ratio is 3.84 and price to sales ratio is 4.24.
According to a U.S. Securities and Exchange Commission filing, iShares Core S&P Small Cap ETF has reduced its position in Tanger Factory Outlet Centers Inc. (SKT) to 7,706,225 shares, mirroring a recent drop by -0.24%. iShares Core S&P Small Cap ETF dumped 18829.0 shares of Tanger Factory Outlet Centers Inc. common stock bringing its total worth to about $138.25 million at the end of recent close, SEC documents show. iShares Core S&P Small Cap ETF isn’t the only investment manager who changed stakes and is followed by Vanguard Real Estate Index Fund, which sold off 55031.0 shares to end up with 4,656,281 shares worth $83.53 million. Vanguard Total Stock Market Index raise their holdings by 0.51% in the company over the course of the most recent quarter. It now holds a 2.87% position in Tanger Factory Outlet Centers Inc. thanks to 3.0 million shares amounting to $53.73 million.