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Tanger

Tanger Factory Outlet

Tanger Inc is a leading owner and operator of outlet and open-air retail shopping destinations. Tanger's portfolio of 38 outlet centers and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in U.S. states and Canada.

mall holiday shopping shutter

REIT

Real Estate

2 Top Retail REITs With Yields Of 4% Or More To Buy in June

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7 REITs Receive Analyst Upgrades In The First Week Of May

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REXR

4 REITs With Double Digit Total Returns Over The Last 3 And 5 Years

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AMZN

Analysts Just Upgraded These 4 REITs

Analyst Color

Equities

Large Cap

Mid Cap

Upgrades

Downgrades

Price Target

Small Cap

Trading Ideas

ROIC

BofA Securities analyst Jeffrey Spector upgraded AKR, Tanger Inc., and downgraded KIM and ROIC after Retail Executive Summit with 8 REITs.

Analyzing Retail REITs: Upgraded Outlook for Tanger, Downgraded Expectations for Kimco and ROIC

Motion,Blurred,Shoppers,Carrying,Shopping,Bags,On,Regent,Street,,London.

These REITs Capitalize on Retail Trends in America

Citibank

EPRT

Citigroup Upgrades Six REITs In One Morning

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This REIT With a 3.7% Yield Thrives in Both Good and Bad Times

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2 Top Retail REITs to Buy in 2024

Tanger Inc

SKYCHAIN TECHNOLOGIES INC by SkyChain Technologies Inc.

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SKYTOP LODGE CORP 7 PFD by Skytop Lodge Corp.

Real estate investment trusts (REITs) own, operate, or finance income-generating real estate. REITs allow individuals to invest in various types of real estate without having to directly own or manage the properties. REITs typically focus on a specific type of real estate, such as residential, commercial, or industrial, and they are required to distribute a large percentage of their taxable income to shareholders in the form of dividends, making them attractive for income-seeking investors.
Let's take a look at two REITs with yields up to 4.5% that you could buy today.
<h2 class="wp-block-heading">Kite Realty Group Trust</h2>
Kite Realty Group Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) owns or has ownership interests in a portfolio of <a href="https://s25.q4cdn.com/292140124/files/doc_financials/2024/q1/KRG-Investor-Update-1Q-2024.pdf">180</a> open-air shopping centers and mixed-use assets containing approximately 28 million square feet. Its portfolio is situated across major markets in the Sun Belt region, including Atlanta, Charlotte, Dallas, Houston, Las Vegas, Miami, Orlando, Phoenix, and San Antonio.
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</ul>
Kite Realty currently pays a quarterly dividend of $0.25 per share, equating to an annualized dividend of $1.00 per share and giving its stock a yield of about 4.5% at the time of this writing. 
Kite Realty is also an up-and-coming dividend-growth star. It has raised its annual dividend payment each of the last three years, and its 4.2% hike in October has it on track for 2024 to mark the fourth consecutive year with an increase.
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<h2 class="wp-block-heading">Tanger Inc.</h2>
Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) owns and operates a portfolio of 38 outlet centers and one open-air lifestyle center consisting of over 15 million square feet across tourist destinations and other high-traffic markets in 20 U.S. states and Canada. Its outlet centers have over 3,000 stores operated by more than 700 brand name companies, including Nike, Ulta, Lululemon, Dick's, Disney, and Crocs.
Tanger currently pays a quarterly dividend of $0.275 per share, equating to an annualized dividend of $1.10 per share, which gives its stock a yield of about 4% at the time of this writing. 
In addition to being a high yielder, Tanger is an up-and-coming dividend-growth star. It has raised its annual dividend for two consecutive years, and its two hikes in the last eight months has it on pace for 2024 to mark the third consecutive year with an increase.
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Image Credit: Shutterstock

News

Analyst Ratings

Live On CNBC, Tanger CEO Stephen J. Yalof Discusses State Of Consumer, Sephora Partnership, Shopping Trends

The five new Sephora locations, each averaging approximately 5,000 square feet, will open later this year in Tanger&#39;s shopping centers in&nbsp;Charleston, S.C.;&nbsp;Deer Park, N.Y.; National Harbor, Md.;&nbsp;Palm Beach, Fla.; and&nbsp;Phoenix/Glendale, Ariz.&nbsp;

Tanger Plans To Bring Five Additional Sephora Stores To Its Shopping Centers This Year

During the last three months, 7 analysts shared their evaluations of Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Tanger, revealing an average target of $29.86, a high estimate of $33.00, and a low estimate of $28.00. This current average reflects an increase of 13.41% from the previous average price target of $26.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1715954472_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The perception of Tanger by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Greg McGinniss</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$28.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Floris Van Dijkum</td>
<td>Compass Point</td>
<td>Announces</td>
<td>Buy</td>
<td>$32.00</td>
<td>-</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$28.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Jeffrey Spector</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$31.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Michael Bilerman</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$33.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$29.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$28.00</td>
<td>$27.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Tanger. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Tanger compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Tanger's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Tanger's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SKT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Tanger analyst ratings.</a>
<h2>Delving into Tanger's Background</h2>
Tanger Inc is a leading owner and operator of outlet and open-air retail shopping destinations. Tanger's portfolio of 38 outlet centers and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in U.S. states and Canada.
<h3>Financial Milestones: Tanger's Journey</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Decline in Revenue: Over the 3 months period, Tanger faced challenges, resulting in a decline of approximately -3.22% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Real Estate sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 17.98%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Tanger's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 3.95%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Tanger's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.96% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Tanger's debt-to-equity ratio is notably higher than the industry average. With a ratio of 2.8, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Decoding 7 Analyst Evaluations For Tanger

Scotiabank analyst Greg McGinniss upgrades Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) from Sector Underperform to Sector Perform and raises the price target from $20 to $28.

Scotiabank Upgrades Tanger to Sector Perform, Raises Price Target to $28

Analyst upgrades are always welcome news for investors because upgrades trigger buying activity which supports share price appreciation.
It looks like Analysts are feeling better about the future direction of interest rates and interest-sensitive stocks such as real estate investment trusts (REITs) because, this week, seven different REITs across five different subsectors have received analyst upgrades.
Sunstone Hotel Investors Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHO#NYSE">SHO</a>) is an Aliso Viejo, CA-based Hotel REIT with 6675 rooms in 14 hotels, on both U.S. coasts and Hawaii. Its hotel brands include Hyatt Regency, Marriott, Hilton, and Four Seasons.
On May 8, Sunstone Hotel Investors reported its first quarter 2024 operating results. Funds from Operation (FFO) of $0.19 per share beat the estimate of $0.17 per share but was below $0.21 per share FFO in Q1 2023. Revenue of $217.166 million was ahead of the estimate of $214.595 million but below revenue of $243.443 million in Q1 2023.
Disregarding the decreases from the year-ago period, On May 7, Compass Point analyst Floris Van Dijkum upgraded Sunstone Hotel from Sell to Neutral and raised the price target from $10 to $12.
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Camden Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPT#NYSE">CPT</a>) is a Houston, TX-based residential REIT that owns and manages 172 properties with 58,634 units in 15 major cities across the U.S. Some apartment complexes also contain ground-floor retail space, offices, or mixed-use space. It's a member of the Standard &amp; Poor&#8217;s 500 index (S&amp;P 500 and) and had its IPO in 1993. At the end of Q3 2023, its occupancy level was 95.0%.
On May 6, Piper Sandler analyst Alexander Goldfarb upgraded Camden Property Trust from Underweight to Neutral and raised the price target from $90 to $110. Three other Brokerages maintained previous positions on the same day, with all raising price targets between $110 and $118.
Mid-America Apartment Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAA#NYSE">MAA</a>) is a self-administered residential REIT specializing in purchasing and leasing apartment complexes. As of March 2024, it owns 102,662 units in 300 communities across 16 states and Washington, D.C. Most Mid-America Apartment Communities' properties are in the Southeast, Southwest, and mid-Atlantic states.
On May 1, Mid-America reported its Q1 2024 operating results. FFO of $2.22 was in line with estimates but was below FFO of $2.28 from Q1 2023. Revenue of $543.62 million beat the estimate of $542.72 million and was above Q1 2023 revenue of $529.03 million.
On May 6, Wedbush analyst Richard Anderson upgraded Mid-America Apartment from Neutral to Outperform, raising the price target by 14% from $135 to $154.&nbsp;
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Healthpeak Properties Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOC#NYSE">DOC</a>) is an El Segundo, CA-based diversified health care REIT that owns and operates private-pay facilities such as life science centers, medical offices, and continuing care retirement communities. Although it has properties throughout the country, most are in the San Francisco, San Diego, and Boston areas. Healthpeak's IPO was created in 1985 and was added to the S&amp;P 500 in 2008. It presently owns 774 properties worth over $20 billion.
On March 1, Healthpeak officially merged with Physicians Realty Trust in an all-stock-for-stock transaction.&nbsp;
On April 25, Healthpeak reported its first quarter 2024 operating results. FFO of $0.45 per share was a penny above the consensus estimate and a 7.14% increase over FFO of $0.42 per share in Q1 2023. Revenue of $606.560 million topped the consensus estimate of $588.284 million and was a 15.39% increase over revenue of $525.678 million in Q1 2023.
Healthpeak also announced an increase in its FY24 Diluted Adjusted Funds From Operations (AFFO) Guidance from $1.50-$1.56 to $1.53-$1.57.&nbsp;
Investors cheered the news and Healthpeak rose over 2% following its earnings and guidance release.
On May 3, Wedbush analyst Richard Anderson upgraded Healthpeak Properties from Neutral to Outperform. No price target was given.
Tanger Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), formerly called Tanger Factory Outlet Centers Inc, is a Greensboro, NC-based retail REIT that owns, co-owns, or manages 40 indoor shopping centers and outdoor factory outlet malls with 15.6 million square feet and over 3000 stores across 20 states and in Canada. Tanger Factory Outlet Centers was founded in 1981 and had its IPO in May 1993. Tanger's occupancy rate at the end of 2023 was 97.3%
On April 30, Tanger reported excellent first quarter operating results. FFO of $0.52 beat the estimate of $0.51 and topped its Q1 2023 FFO of $0.46 per share. Revenue of $123.371 million beat the estimate of $122.804 million and was 13.24% above revenue from Q4 2022 of $108.943 million. Tanger also raised its Full Year 2024 Core FFO from $2.01-$2.09 per share to $2.03-$2.11.&nbsp;
On May 2, Compass Point analyst Floris Van Dijkum upgraded Tanger from Neutral to Buy and announced a price target of $32.
PotlatchDeltic Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCH#NASDAQ">PCH</a>) is a specialty REIT that invests in timberland. The Spokane, WA-based company owns nearly 2.2 million acres of timberlands across seven states. It was founded in the year 1903 as Clearwater Timber Company and became a REIT in 2006. PotlatchDeltic merged with CatchMark Timer Trust, Inc. in 2022.
On April 29, PotlatchDeltic released its first quarter 2024 operating results. Non-GAAP EPS of $0.00 beat the estimates of (0.02). Revenue of $228.127 million was ahead of the consensus estimate of $227.841 million and was 11.57% below its Q1 2023 revenue of $257.962 million.
On May 1, RBC Capital analyst Matthew McKellar upgraded PotlatchDeltic from Sector Perform to Outperform and announced a $46 price target.
American Tower Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>) is a Boston, MA-based specialty REIT that calls itself "a global leader in wireless infrastructure." Founded in 1995, American Tower owns, operates, and develops wireless and broadcast communications real estate. Most of its business is leasing space on wireless and broadcast towers and it also leases portions of the land below the tower for equipment storage. Typical tower components are coaxial cabling and fiber optic cables.
American Tower has a presence in 224,000 global communication sites across 25 different countries in six continents. About 42,000 of those properties are in the U.S. and Canada, and approximately 181,000 are international properties
On April 30, American Tower released its first quarter 2024 operating results. Adjusted Funds from Operations (AFFO) of $2.79 per share easily beat the consensus estimate of $2.54 per share, and AFFO of $2.54 in Q1 2023. Revenue of $2.834 billion also beat the street's view of $2.795 billion and topped revenue of $2.767 billion from Q1 2023.
On May 1, Raymond James analyst Ric Prentiss upgraded American Tower from Outperform to Strong Buy and raised the price target from $226 to $248.
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Compass Point analyst Floris Van Dijkum upgrades Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) from Neutral to Buy and announces $32 price target.

Compass Point Upgrades Tanger to Buy, Announces $32 Price Target

In the preceding three months, 5 analysts have released ratings for Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), presenting a wide array of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $29.8, a high estimate of $33.00, and a low estimate of $28.00. This upward trend is evident, with the current average reflecting a 7.97% increase from the previous average price target of $27.60.
<img src="https://www.benzinga.com/files/images/story/2024/1714579252_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Tanger. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$28.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Jeffrey Spector</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$31.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Michael Bilerman</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$33.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$29.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$28.00</td>
<td>$27.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Tanger. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Tanger compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
To gain a panoramic view of Tanger's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/SKT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Tanger analyst ratings.</a>
<h2>All You Need to Know About Tanger</h2>
Tanger Inc is a leading owner and operator of outlet and open-air retail shopping destinations. Tanger's portfolio of 38 outlet centers and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in U.S. states and Canada.
<h3>Financial Milestones: Tanger's Journey</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Tanger displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 9.46%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: Tanger's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 18.4%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Tanger's ROE excels beyond industry benchmarks, reaching 4.44%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Tanger's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.04%, the company may face hurdles in achieving optimal financial returns.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 2.69, caution is advised due to increased financial risk.
<h2>Analyst Ratings: Simplified</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

In-Depth Examination Of 5 Analyst Recommendations For Tanger

Evercore ISI Group analyst Samir Khanal maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a In-Line and lowers the price target from $29 to $28.

Evercore ISI Group Maintains In-Line on Tanger, Lowers Price Target to $28

Guidance

Tanger Sees 2024 Core FFO Per Share $2.03-$2.11

Tanger Factory Outlet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.51 by 1.96 percent. This is a 13.04 percent increase over earnings of $0.46 per share from the same period last year. The company reported quarterly sales of $123.371 million which beat the analyst consensus estimate of $122.804 million by 0.46 percent. This is a 13.24 percent increase over sales of $108.943 million the same period last year.

Earnings

Earnings Beats

Tanger Factory Outlet Q1 2024 FFO $0.52 Beats $0.51 Estimate, Sales $123.371M Beat $122.804M Estimate

Investors looking over the vast number of real estate investment trusts (REITs) are sometimes confused as to which ones will most likely create both appreciation and a good dividend return over time. The combination of these two performance matrices creates the "total return" of the REIT.
Many REITs perform well for short periods but do not sustain those results over a longer period. With the headwinds of COVID-19, inflation and increases in interest rates over the past five years, it hasn't been an easy time for the REIT sector in general.
However, some individual REITs have withstood the headwinds and captured excellent gains. Take a look at four REITs with double-digit total returns over the past three- and five-year time frames.
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Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) is a Portsmouth, New Hampshire-based specialty REIT with a focus on information management and storage, data center infrastructure and asset lifecycle management. Iron Mountain was founded in 1951 and has more than 240,000 customers worldwide. In recent years, it has shifted its focus from paper storage to data storage.&nbsp;
On Feb. 22, Iron Mountain reported its fourth-quarter operating results. Funds from operations (FFO) of $0.83 per share beat the consensus estimate of $0.81 and its FFO of $0.74 per share in the fourth quarter of 2022. Revenue of $1.42 billion beat the fourth-quarter 2022 revenue of $1.28 billion but could not meet the analyst estimates of $1.45 billion.
On March 15, Wells Fargo analyst Eric Luebchow maintained an Overweight position on Iron Mountain and raised the price target from $80 to $90. Barclays' analyst Brendan Lewis also has an Overweight position from early March on Iron Mountain, with a $91 price target.
Iron Mountain's three- and five-year total returns are 129.4% and 150.54% respectively.
Tanger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), formerly called Tanger Factory Outlet Centers Inc., is a Greensboro, North Carolina-based retail REIT that owns, coowns or manages 40 indoor shopping centers and outdoor factory outlet malls with 15.6 million square feet and over 3,000 stores across 20 states and in Canada. Tanger Factory Outlet Centers was founded in 1981 and had its initial public offering (IPO) in May 1993. Tanger's occupancy rate at the end of 2023 was 97.3%.
On Feb. 15, Tanger reported excellent fourth-quarter operating results. FFO of $0.52 beat the estimate of $0.50. Revenue of $127.48 million beat the estimate of $119.04 million and was 9.46% above revenue from the fourth quarter of 2022 of $116.46 million. Additionally, full-year core FFO was announced in a range from $2.01-$2.09 per share, with a midpoint above the analyst consensus estimate of $2.03 per share.&nbsp;
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On April 5, Bank of America Securities analyst Jeffrey Spector upgraded Tanger from Underperform to Neutral and raised the price target 29.1% from $24 to $31. On March 22, Citigroup analyst Michael Bilerman also upgraded Tanger from Neutral to Buy and raised the price target from $30 to $33.&nbsp;
Tanger's three- and five-year total returns are 94.41% and 56.76%, respectively.
Plymouth Industrial REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLYM#NYSE">PLYM</a>) is a Boston-based industrial REIT that owns and operates 156 properties with over 34 million square feet in 13 East Coast and Midwestern markets. Its portfolio occupancy as of Dec. 31, was 98.6%. During the fourth quarter of 2023, it leased an aggregate of 966,167 square feet, with a 23.4% increase in rental rates on a cash basis from these leases.
In 2023, Plymouth outperformed larger and more well-known industrial REITs such as Prologis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) and Rexford Industrial Realty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REXR#NYSE">REXR</a>). Still, this smaller REIT receives far less publicity than its rivals.&nbsp;&nbsp;
On Feb. 21, Plymouth reported its fourth-quarter operating results. Adjusted FFO (AFFO) of $0.48 per share was a 14.29% increase over AFFO of $0.42 in the fourth quarter of 2022. Revenue of $50.75 million missed the Street's estimate of $50.91 million but topped its revenue of $47.32 million in the fourth quarter of 2022.
Plymouth Industrial also announced an increase in its quarterly dividend from $0.225 per share to $0.24 per share. The $0.96 per share annual dividend presently yields 4.48%.&nbsp;
On&nbsp; March 27, Barclays analyst Brendan Lynch initiated coverage on Plymouth Industrial REIT with an Equal-Weight rating and announced a price target of $22.
On April 2, Plymouth Industrial reported on its leasing activity for the first quarter of 2024. Over 1.3 million square feet of space with terms of at least six months was leased with a 17.1% increase in rental rates. These included both renewals and new leases. Total same-store occupancy at the end of the first quarter was 98.3%.
Plymouth Realty's three- and five-year total returns are 39.62% and 58.28%, respectively.
Lamar Advertising Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) is a Baton Rouge, Louisiana-based specialty REIT, founded in 1902 with a focus on owning and leasing 363,000 displays throughout the U.S. and Canada, including digital and print billboards, interstate logos and airport advertising formats. Lamar Advertising and Outfront Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>) are the only two REITs exclusively devoted to billboard and display advertising.
On Feb. 23, Lamar Advertising reported its fourth-quarter results. FFO of $1.46 per share beat the estimate of $1.35 per share and was 124.62% better than its fourth-quarter 2022 FFO of $0.65 per share. Revenue of $555.91 million topped the estimate of $547.66 million and also bested its revenue of fourth-quarter 2022 revenue of $535.51 million.
On Feb. 26, Morgan Stanley analyst Benjamin Swinburne maintained an Equal-Weight rating on Lamar and increased the price target from $105&nbsp; to $110. The same day, JPMorgan Chase &amp; Co. analyst Richard Close maintained a Neutral rating on Lamar and raised the price target from $92 to $109.
Lamar pays a quarterly dividend of $1.30 per share, and the annualized $5.20 dividend yields 4.52%. Its total three- and five-year returns are 34% and 67.52%, respectively.&nbsp;
The following table summarizes all four REITs and the total returns made since 2019:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>REIT</td>
<td>SYMBOL</td>
<td>TYPE</td>
<td>3-YR RETURN</td>
<td>5-YR RETURN</td>
</tr>
<tr>
<td>Iron Mountain Inc.</td>
<td>IRM</td>
<td>Specialized</td>
<td>129.4%</td>
<td>150.54%</td>
</tr>
<tr>
<td>Tanger Inc.&nbsp;</td>
<td>SKT</td>
<td>Retail</td>
<td>94.41%</td>
<td>56.76%</td>
</tr>
<tr>
<td>Plymouth Industrial REIT</td>
<td>PLYM</td>
<td>Industrial</td>
<td>39.62%</td>
<td>58.28%</td>
</tr>
<tr>
<td>Lamar Advertising Co.</td>
<td>LAMR</td>
<td>Specialized</td>
<td>34%</td>
<td>67.52%</td>
</tr>
</tbody>
</table>
</figure>
(Dates used: April 5, 2021, and April 5, 2019, to April 5, 2024)
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Tanger&#xAE;&nbsp;(NYSE:<a href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), a leading owner and operator of outlet and open-air retail shopping destinations, announced today that its Board of Directors approved a 5.8% increase in the dividend on its common shares from $1.04 to $1.10 per share on an annualized basis. Simultaneously, the Board of Directors declared a quarterly cash dividend of $0.275 per share, payable on May 15, 2024 to common shareholders of record on April 30, 2024.
"With the foundation of our well-positioned balance sheet and the strength of our operating platform, we have the liquidity and flexibility to grow our well-covered dividend and return capital to our shareholders," said Stephen Yalof, President and Chief Executive Officer. "Tanger is committed to unlocking additional value for our shareholders as we continue to execute on our long-term growth strategies."

Dividends

Tanger Increases Dividend From $1.04 To $1.10 Per Share

The start of the second quarter of 2024 has been challenging for real estate investment trusts (REITs). On Good Friday, when Federal Reserve Chairman Jerome Powell noted that higher-than-expected strength in job gains and inflation may delay or reduce interest rate cuts in 2024, markets again sold off interest rate-sensitive stocks such as REITs.
Despite the latest disappointment, there was some good news last week, as analysts upgraded several REITs and raised price targets on many others while still maintaining previous ratings.
Take a look at four REITs that analysts at Bank of America Securities recently upgraded.
Tanger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), formerly Tanger Factory Outlet Centers Inc., is a Greensboro, North Carolina-based retail REIT that owns 40 indoor shopping centers and outdoor factory outlet malls with 15.6 million square feet and over 3,000 stores across 20 states and Canada. Tanger Factory Outlet Centers was founded in 1981 and had its initial public offering (IPO) in May 1993. Tanger's occupancy rate at the end of 2023 was 97.3%.&nbsp;
On Feb. 15, Tanger reported excellent fourth-quarter operating results. Funds from operations (FFO) of $0.52 beat the estimate of $0.50. Revenue of $127.48 million beat the estimate of $119.04 million and was 9.46% above revenue from the fourth quarter of 2022 of $116.46 million. Additionally, full-year core FFO was announced in a range from $2.01-$2.09 per share, with a midpoint above the analyst consensus estimate of $2.03 per share.
Tanger was the second-leading REIT overall in 2023, with a total return of 63.58%, negating the popular notion that in-store retail shopping has lost out to Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and other online websites.
On April 5, Bank of America Securities analyst Jeffrey Spector upgraded Tanger from Underperform to Neutral and raised the price target 29.1% from $24 to $31. On March 22, Citigroup analyst Michael Bilerman also upgraded Tanger from Neutral to Buy and raised the price target from $30 to $33.&nbsp;&nbsp;&nbsp;
Acadia Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AKR#NYSE">AKR</a>) is a Rye, New York-based retail REIT with 189 properties (as of the fourth quarter of 2023) across centralized urban areas in 22 states and Washington, D.C. The overall lease rate is approximately 95% with annual rent increases of 3%.
On April 5, Bank of America Securities analyst Craig Schmidt upgraded Acadia Realty Trust from Neutral to Buy and raised the price target by 11.1% from $18 to $20. This upgrade could not have come at a better time, as many retail REITs, including Acadia Realty, were getting hit hard last week following Powell's remarks.
Acadia will announce its first-quarter 2024 earnings on April 29.&nbsp;
Essex Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) is a residential REIT that owns and operates 252 apartment communities with 62,000 units in the West Coast states of California and Washington. Essex Property Trust is a member of the S&amp;P 500 and a Dividend Aristocrat.&nbsp;
On March 25, Essex Property Trust acquired JV Partner's 49.9% interest in four apartment communities, with 1,480 units for a total purchase price of $505 million.&nbsp;
On April 1, Bank of America Securities analyst Joshua Dennerlein upgraded Essex Property Trust from Neutral to Buy and raised the price target by 10% from $250 to $275.
Analyst price targets vary widely. Within the past two weeks, Truist Securities has maintained a Hold on Essex with a $259 price target, and Piper Sandler has maintained an Overweight position and a $291 price target.&nbsp;
Healthpeak Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOC#NYSE">DOC</a>) is an El Segundo, California-based diversified healthcare REIT that owns and operates private-pay facilities such as life science centers, medical offices and continuing care retirement communities. Although it has properties across the country, most are in the San Francisco, San Diego and Boston areas.&nbsp;
Healthpeak's IPO was created in 1985, and it was added to the S&amp;P 500 in 2008. It owns 477 properties totaling over 50 million square feet with over 2,500 tenants, worth over $20 billion.
On March 1, Healthpeak officially merged with Physicians Realty Trust in an all-stock-for-stock transaction.&nbsp;
On April 1, Bank of America Securities analyst Dennerlein upgraded Healthpeak Properties from Underperform to Buy, while raising the price target 38.8% from $18 to $25.&nbsp;
Healthpeak will announce its first-quarter 2024 earnings on April 26.
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BofA Securities&nbsp;analyst Jeffrey Spector changed the rating for a few retail REITS following their Retail Executive Summit with 8 REITs.
The analyst upgraded&nbsp;Acadia Realty Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AKR#NYSE">AKR</a>) to Buy from Neutral at an increased&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/AKR/analyst-ratings" rel="noreferrer noopener">price target of $20 (from $18)</a>.
The rating reflects the leading internal growth outlook, near-term&nbsp;
growth opportunities, upside to FY24 guidance from recovering&nbsp;
Street retail assets include lagging markets like Chicago and lower capital expenditure on Street leases.
The analyst estimates an FFO per share of $1.30 in 2024 and $1.35 in 2025.&nbsp;
Spector also increased the rating on&nbsp;Tanger Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) to Neutral (from Underperform) and upped&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/SKT/analyst-ratings" rel="noreferrer noopener">the price target to $31 from $24</a>.
The bullish stance reflects the company&#8217;s strong platform and balance sheet, successful efforts to improve assets, and increased earnings visibility.
The analyst estimates the FFO per share to be $2.06 in 2024 and $2.14 in 2025.
Spector downgraded&nbsp;Kimco Realty Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>) to Neutral from Buy and cut the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/KIM/analyst-ratings" rel="noreferrer noopener">price target to $20 (from $24)</a>.
The rating change reflects less accretion from the company&#8217;s acquisition of RPT Realty <a href="https://www.benzinga.com/markets/equities/23/08/34066817/kimco-pens-2b-merger-deal-with-rpt-realty-boosts-coastal-and-sun-belt-markets-footprints" target="_blank" rel="noreferrer noopener">for around $2 billion</a>.
Kimco closed the acquisition of&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/01/b36450624/kimco-realty-closes-acquisition-of-rpt-realty" rel="noreferrer noopener">RPT in January 2024</a>.
The analyst estimates the FFO per share to be $1.56 in 2024 and $1.65 in 2025.
Also, the analyst lowered the rating on&nbsp;Retail Opportunity Investments Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NYSE">ROIC</a>) to Underperform from Neutral and slashed the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/ROIC/analyst-ratings" rel="noreferrer noopener">price target to $12 (from $14.5)</a>.
The lowered rating is due to higher risk for the company&#8217;s dilutive acquisitions (vs. better-positioned peers) and smaller opportunity sets for achieving growth.
The analyst estimates the FFO per share to be $1.04 in 2024 and $1.06 in 2025.
Photo via Shutterstock

In the preceding three months, 4 analysts have released ratings for Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), presenting a wide array of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Tanger, revealing an average target of $30.25, a high estimate of $33.00, and a low estimate of $28.00. This upward trend is evident, with the current average reflecting a 11.01% increase from the previous average price target of $27.25.
<img src="https://www.benzinga.com/files/images/story/2024/1712325650_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Tanger. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jeffrey Spector</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$31.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Michael Bilerman</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$33.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$29.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$28.00</td>
<td>$27.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Tanger. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Tanger compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Tanger's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Tanger's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SKT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Tanger analyst ratings.</a>
<h2>All You Need to Know About Tanger</h2>
Tanger Inc is a leading owner and operator of outlet and open-air retail shopping destinations. Tanger's portfolio of 38 outlet centers and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in U.S. states and Canada.
<h3>Understanding the Numbers: Tanger's Finances</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Tanger showcased positive performance, achieving a revenue growth rate of 9.46% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 18.4%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Tanger's ROE stands out, surpassing industry averages. With an impressive ROE of 4.44%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Tanger's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.04%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Tanger's debt-to-equity ratio is notably higher than the industry average. With a ratio of 2.69, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Ratings For Tanger

B of A Securities analyst Jeffrey Spector upgrades Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) from Underperform to Neutral and raises the price target from $24 to $31.

B of A Securities Upgrades Tanger to Neutral, Raises Price Target to $31

Retail real estate investment trusts (REITs) specialize in owning and managing retail properties, including shopping centers, malls, strip malls, and other retail spaces. Retail REITs generate revenue through leasing space to retailers, making them a popular choice for investors seeking income.
As is the case with all REITs, retail REITs are required to distribute a significant portion of their income to shareholders in the form of dividends, making them a popular choice for investors seeking income.
Here are two retail REITs with yields up to 4.3% that you could buy today.
<h2 class="wp-block-heading">Tanger Inc.</h2>
Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) owns and operates a portfolio of 38 outlet centers and one open-air lifestyle center consisting of over 15 million square feet across tourist destinations and other high-traffic markets in 20 U.S. states and Canada. Its outlet centers have over 3,000 stores operated by more than 700 brand name companies, including Nike, Ulta, Lululemon, Dick's, Disney, and Crocs.
Tanger currently pays a quarterly dividend of $0.26 per share, equating to an annualized dividend of $1.04 per share, which gives its stock a yield of about 3.7% at the time of this writing.&nbsp;
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On top of offering a high yield, Tanger is becoming a dividend-growth star. It has raised its annual dividend for two consecutive years, and its 6.1% hike in October has it on pace for 2024 to mark the third consecutive year with an increase.
<h2 class="wp-block-heading">Trending</h2>
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</ul>
<h2 class="wp-block-heading">Federal Realty Investment Trust</h2>
Federal Realty Investment Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRT#NYSE">FRT</a>) owns and manages a portfolio of 102 mixed-use properties and open and shopping centers in top suburban markets, including Boston, Chicago, Miami, New York City, Philadelphia, Phoenix, Silicon Valley, and Washington, D.C.
Federal Realty currently pays a quarterly dividend of $1.09 per share, equating to an annualized dividend of $4.36 per share, which gives its stock a yield of about 4.3% at the time of this writing.&nbsp;
Federal Realty is also a dividend-growth superstar. It owns the longest record of dividend growth in the entire REIT industry, sitting at an eye-popping 56 consecutive years. Investors should consider Federal Realty one of the best REITs in the market.
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Image Credit: Shutterstock

The Federal Reserve's reassertion this week that despite recent gains in the consumer price index (CPI) and producer price index (PPI), it still envisions three rate cuts coming in 2024, sparking a rally in real estate investment trusts (REITs). On March 22, three analysts from Citigroup kept that enthusiasm going by upgrading a half dozen REITs and raising price targets on all six.
Take a look at the REITs receiving upgrades this week, along with some positives that each REIT has going for it. &nbsp;
Macerich Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAC#NYSE">MAC</a>) is a Santa Monica, California-based retail REIT that specializes in the acquisition, leasing and management of 44 regional town center malls across the U.S. Macerich was founded in 1972 and had its initial public offering (IPO) in 1994.
Macerich has recently developed new leadership. On March 1, Jackson Hsieh was appointed president and CEO of the company. On March 12, Hsieh and other Macerich senior executives celebrated 30 years of being in business as a public company by ringing the opening bell at the New York Stock Exchange.
On March 22, Citigroup analyst Nicholas Joseph upgraded Macerich from Sell to Neutral and raised the price target from $8 to $17.
Omega Healthcare Investors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OHI#NYSE">OHI</a>) is a Hunt Valley, Maryland-based triple-net equity healthcare REIT that provides financing, capital and leasing to 69 operators among 862 senior housing, skilled nursing and assisted living facilities across 42 states throughout the U.S. and the United Kingdom. Omega Healthcare Investors has no part in the day-to-day management of these facilities, which are run by the operators.&nbsp;
On March 22, Citigroup analyst Nicholas Joseph upgraded Omega Healthcare from Neutral to Buy and raised the price target from $32 to $35.
On Feb. 26, Wells Fargo analyst Connor Siversky also upgraded Omega Healthcare Investors, from Equal-Weight to Overweight and raised the price target from $31 to $35.
Park Hotels &amp; Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PK#NYSE">PK</a>) is a Tysons, Virginia-based hotel REIT with 43 hotels and resorts with over 26,000 rooms, located in prime U.S. markets from Hawaii to Massachusetts that have high barriers to entry. Park Hotels is a small-cap stock with a market cap of $3.737 billion. Its occupancy rate in the fourth quarter of 2023 was 71%, up from 69.5% in Q4 2022.
Park was established as an independent company in January 2017 following its spinoff from Hilton. In September 2019, Park acquired Chesapeake Lodging Trust to add premium-brand hotels and resorts in prime markets such as Miami, Boston, Los Angeles and San Francisco.
On March 22, Citigroup analyst Smedes Rose upgraded Park Hotels &amp; Resorts from Neutral to Buy and raised the price target from $14 to $20.
Several other analysts have recently come out with positive ratings on Park Hotels. Truist Securities has a Buy and $21 price target and Deutsche Bank has a Buy rating and a $24 price target on Park.
Tanger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), formerly called Tanger Factory Outlet Centers Inc., is a Greensboro, North Carolina-based retail REIT that owns 40 indoor shopping centers and outdoor factory outlet malls with 15.6 million square feet and over 3,000 stores across 20 states and in Canada. Tanger Factory Outlet Centers was founded in 1981 and had its IPO in May 1993. Tanger's occupancy rate at the end of 2023 was 97.3%.&nbsp;
Tanger was the second-leading REIT overall in 2023, with a total return of 63.58%, overcoming the popular idea that in-store retail shopping is in decline because of the popularity of Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and other online retailers. Its total return so far in 2024 is 5.09%.
On Feb. 15, Tanger reported excellent fourth-quarter operating results. Funds from operations (FFO) of $0.52 beat the estimate of $0.50. Revenue of $127.48 million beat the estimate of $119.04 million and was 9.46% above revenue from the fourth quarter of 2022 of $116.46 million. Additionally, full-year core FFO was announced in a range from $2.01-$2.09 per share, with a midpoint above the analyst consensus estimate of $2.03 per share.
On March 22, Citigroup analyst Michael Bilerman upgraded Tanger from Neutral to Buy and raised the price target from $30 to $33. Tanger continues to perform well and the Citigroup upgrade should help the share price as well. &nbsp;
Essential Properties Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPRT#NYSE">EPRT</a>) is a Princeton, New Jersey-based diversified REIT that owns and manages single-tenant properties with net leases for service-oriented and experience-based businesses. Essential Properties was founded in 2016 and has a market cap of $4.4 billion. It has a portfolio of 1,873 properties across 48 states. Its properties, which have a 99.8% occupancy rate, have a weighted average lease term (WALT) of 14 years.
On March 22, Citigroup analyst Nicholas Joseph upgraded Essential Properties from Neutral to Buy and raised the price target from $25 to $28.50. On March 13, B. Riley Securities also reiterated a Buy on Essential Properties and raised its price target from $27.50 to $29 per&nbsp;
Total occupancy and rent collection are extremely important aspects of a REIT, and from that standpoint, it's easy to see why analysts have upgraded Essential Properties' ratings and price targets this month.
American Homes 4 Rent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMH#NYSE">AMH</a>) is a Calabasas, California-based residential REIT that purchases, develops, renovates and leases existing and new single-family homes as rental properties. American Homes 4 Rent was created in 2012 and in less than 12 years has built a portfolio of 58,470 single-family units across 21 states. Its largest concentration of homes is in the Southeastern U.S., where population growth has been explosive. Its IPO was in July 2013.
As of the fourth quarter of last year, American Homes 4 Rent had a same-home average occupied days of 96.2%.&nbsp;
On March 22, Citigroup analyst Nicholas Joseph upgraded American Homes 4 Rent from Neutral to Buy and raised the price target from $37 to $41.
Other analysts have also supported American Homes recently. On March 20, Mizuho analyst Haendel St. Juste maintained a Buy on American Homes and raised the price target from $37 to $39. On March 12, JMP Securities analyst Aaron Hecht maintained American Homes with an Outperform and raised the price target from $38 to $41.
<h2 class="wp-block-heading">Explore Opportunities Beyond REITs</h2>
While publicly traded REITs offer a convenient way to invest in real estate, we believe that some of the most compelling opportunities lie in the private market. Benzinga's <a href="https://www.benzinga.com/go/real-estate-screener">real estate offering screener</a> features a curated selection of private market real estate offerings from trusted platforms with a track record of strong returns.
Whether you&#8217;re an accredited or non-accredited investor, you can filter opportunities based on your investment criteria, including minimum investment, property type and target return. These offerings provide a unique chance to diversify your portfolio and tap into potential high-yield investments that are not available on public exchanges.
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Citigroup analyst Michael Bilerman upgrades Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) from Neutral to Buy and raises the price target from $30 to $33.

Citigroup Upgrades Tanger to Buy, Raises Price Target to $33

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Tanger raised to Sector Perform at Scotiabank as tenant risk not surfacing

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Press Releases

Tanger to Present at Citi's 2024 Global Property CEO Conference

Tanger Schedules First Quarter 2024 Earnings Release and Conference Call

Tanger Increases Dividend by 5.8%

Tanger Announces the Amendment, Increase and Extension of its Unsecured Lines of Credit

Tanger Reports First Quarter Results and Raises Full-Year 2024 Guidance

Tanger Schedules Second Quarter 2024 Earnings Release and Conference Call

Tanger to Present at Nareit's REITweek 2024 Investor Conference

Commodities

Tanger Releases 2023 Environmental, Social, and Governance Report

Tanger Expands Partnership with Sephora

Tanger Inc. Receives 2024 Nareit Investor CARE Gold Award for Excellence in Communications and Reporting

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