Brokerage Firm Rating Update on Tanger Factory Outlet Centers (SKT)

Tanger Factory Outlet Centers (SKT) : Zacks Investment Research ranks Tanger Factory Outlet Centers (SKT) as 3, which is a Hold recommendation. 1 other analysts are mildly bullish on the stock and favor a Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 7 research analysts is 3.14, which indicates as a Hold.

Tanger Factory Outlet Centers (SKT) : Average target price received by Tanger Factory Outlet Centers (SKT) is $42.5 with an expected standard deviation of $4.12. The most aggressive target on the stock is $48, whereas the most downbeat target is $38. 4 financial analysts are currently covering the stock.


Company shares have received an average consensus rating of Hold for the current week Also, Equity Analysts at the UBS maintains the rating on Tanger Factory Outlet Centers (NYSE:SKT). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency raises the price target from $34 per share to $39 per share. The rating by the firm was issued on August 26, 2016.

Tanger Factory Outlet Centers (NYSE:SKT): The stock opened at $40.76 and touched an intraday high of $41.16 on Wednesday. During the day, the stock corrected to an intraday low of $40.62, however, the bulls stepped in and pushed the price higher to close in the green at $41.14 with a gain of 0.83% for the day. The total traded volume for the day was 273,823. The stock had closed at $40.8 in the previous trading session.

Tanger Factory Outlet Centers, Inc. is a fully-integrated, self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The Company has interests in nine outlet centers totaling approximately 2.6 million square feet, including four outlet centers in Canada. The outlet centers and other assets are held by, and all of the Companys operations are conducted by, Tanger Properties Limited Partnership and subsidiaries. The Company owns the units of partnership interest issued by the Operating Partnership, through its two wholly owned subsidiaries, Tanger GP Trust and Tanger LP Trust. Tanger GP Trust controls the Operating Partnership as its sole general partner. Tanger LP Trust holds a limited partnership interest. Its outlet centers range in size from 24,619 to 749,074 square feet and are located at least ten miles from department stores and manufacturer-owned retail stores.

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