Tanger Factory Outlet Centers Inc. [NYSE: SKT] plunged by -$0.08 during the normal trading session on Friday and reaching a high of $18.04 during the day while it closed the day at $17.94. The company report on November 21, 2022 that Tanger Welcomes New Brands to Expanding Retail Portfolio.
Outlet leader brings in major national brands, well-timed for holiday shopping season.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT), a leading operator of upscale, open-air outlet centers, today announced leasing momentum for the portfolio with the addition of nearly thirty new stores to its retail lineup during the fourth quarter of 2022, including popular footwear and apparel retailer Allbirds.
Tanger Factory Outlet Centers Inc. stock has also loss -0.11% of its value over the past 7 days. However, SKT stock has inclined by 31.14% in the 3 months of the year. Over the past six months meanwhile, it has gained 24.07% and lost -6.95% year-on date.
The market cap for SKT stock reached $1.88 billion, with 103.75 million shares outstanding and 101.70 million shares in the current float. Compared to the average trading volume of 736.78K shares, SKT reached a trading volume of 560140 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Tanger Factory Outlet Centers Inc. [SKT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SKT shares is $18.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SKT stock is a recommendation set at 3.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Evercore ISI have made an estimate for Tanger Factory Outlet Centers Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on November 05, 2021. The new note on the price target was released on November 03, 2021, representing the official price target for Tanger Factory Outlet Centers Inc. stock. Previously, the target price had yet another raise from $11 to $12.50, while Goldman kept a Sell rating on SKT stock.
The Average True Range (ATR) for Tanger Factory Outlet Centers Inc. is set at 0.45, with the Price to Sales ratio for SKT stock in the period of the last 12 months amounting to 4.29. The Price to Book ratio for the last quarter was 3.77, with the Price to Cash per share for the same quarter was set at 1.72. Price to Free Cash Flow for SKT in the course of the last twelve months was 17.25.
SKT stock trade performance evaluation
Tanger Factory Outlet Centers Inc. [SKT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.11. With this latest performance, SKT shares dropped by -7.76% in over the last four-week period, additionally plugging by 24.07% over the last 6 months – not to mention a drop of -7.29% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SKT stock in for the last two-week period is set at 42.47, with the RSI for the last a single of trading hit 40.19, and the three-weeks RSI is set at 45.98 for Tanger Factory Outlet Centers Inc. [SKT]. The present Moving Average for the last 50 days of trading for this stock 18.60, while it was recorded at 17.96 for the last single week of trading, and 16.71 for the last 200 days.
Earnings per share (EPS) analysis for Tanger Factory Outlet Centers Inc. [SKT] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SKT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tanger Factory Outlet Centers Inc. go to 6.70%.
Tanger Factory Outlet Centers Inc. [SKT]: Insider Ownership positions
There are presently around $1,428 million, or 77.40% of SKT stock, in the hands of institutional investors. The top three institutional holders of SKT stocks are: BLACKROCK INC. with ownership of 18,519,731, which is approximately 2.994% of the company’s market cap and around 1.70% of the total institutional ownership; VANGUARD GROUP INC, holding 16,577,247 shares of the stock with an approximate value of $297.4 million in SKT stocks shares; and STATE STREET CORP, currently with $111.91 million in SKT stock with ownership of nearly -0.674% of the company’s market capitalization.
Positions in Tanger Factory Outlet Centers Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 113 institutional holders increased their position in Tanger Factory Outlet Centers Inc. [NYSE:SKT] by around 4,121,297 shares. Additionally, 114 investors decreased positions by around 6,942,735 shares, while 52 investors held positions by with 68,558,180 shares. The mentioned changes placed institutional holdings at 79,622,212 shares, according to the latest SEC report filing. SKT stock had 23 new institutional investments in for a total of 449,898 shares, while 24 institutional investors sold positions of 3,565,314 shares during the same period.