Tanger Inc (NYSE:SKT) shares, rose in value on Friday, November 01, with the stock price down by -0.12% to the previous day’s close as strong demand from buyers drove the stock to $33.19.
Actively observing the price movement in the last trading, the stock closed the session at $33.23, falling within a range of $33.19 and $33.84. The value of beta (5-year monthly) was 1.838 whereas the PE ratio was 36.94 over 12-month period. Referring to stock’s 52-week performance, its high was $34.81, and the low was $22.43. On the whole, SKT has fluctuated by 1.72% over the past month.
With the market capitalization of Tanger Inc currently standing at about $3.63 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-06. The company’s Forward Dividend Ratio is 1.08, with its dividend yield at 3.27%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 500.77M, with a low estimate of 121.62M and a high estimate of 129.66M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 125.86M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SKT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 6.76, with the price of SKT currently trading nearly -2.00% and 2.22% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.62, while the 7-day volatility ratio is showing 1.54% which for the 30-day chart, stands at 1.63%. Furthermore, Tanger Inc (SKT)’s beta value is 1.84, and its average true range (ATR) is 0.57.
A comparison of Tanger Inc (SKT) with its peers suggests the former has fared considerably weaker in the market. SKT showed an intraday change of -0.12% in last session, and over the past year, it grew by 43.74%%.
Data on historical trading for Tanger Inc (NYSE:SKT) indicates that the trading volumes over the past 10 days have averaged 0.49 and over the past 3 months, they’ve averaged 677.93K. According to company’s latest data on outstanding shares, there are 108.79 million shares outstanding.
Nearly 2.41% of Tanger Inc’s shares belong to company insiders and institutional investors own 86.41% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.3 million shares as on 2024-10-15, resulting in a short ratio of 6.21. According to the data, the short interest in Tanger Inc (SKT) stood at 612.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 4.15 million. The stock has risen by 19.73% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SKT stock heading into the next quarter.
