Tanger Inc (NYSE:SKT) shares, rose in value on Friday, November 22, with the stock price down by -0.49% to the previous day’s close as strong demand from buyers drove the stock to $36.49.
Actively observing the price movement in the last trading, the stock closed the session at $36.67, falling within a range of $36.3535 and $37.01. The value of beta (5-year monthly) was 1.836 whereas the PE ratio was 42.18 over 12-month period. Referring to stock’s 52-week performance, its high was $36.81, and the low was $24.72. On the whole, SKT has fluctuated by 6.01% over the past month.
With the market capitalization of Tanger Inc currently standing at about $4.04 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 1.08, with its dividend yield at 2.97%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 502.82M, with a low estimate of 124.99M and a high estimate of 133.04M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 129.14M.
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 100% 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 7.28, with the price of SKT currently trading nearly 4.08% and 7.56% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 70.39, while the 7-day volatility ratio is showing 1.41% which for the 30-day chart, stands at 1.93%. Furthermore, Tanger Inc (SKT)’s beta value is 1.86, and its average true range (ATR) is 0.63.
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 -0.49% in last session, and over the past year, it grew by 44.92%%.
Data on historical trading for Tanger Inc (NYSE:SKT) indicates that the trading volumes over the past 10 days have averaged 0.85 and over the past 3 months, they’ve averaged 705.52K. According to company’s latest data on outstanding shares, there are 108.79 million shares outstanding.
Nearly 2.40% of Tanger Inc’s shares belong to company insiders and institutional investors own 87.34% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.84 million shares as on 2024-10-31, resulting in a short ratio of 6.98. According to the data, the short interest in Tanger Inc (SKT) stood at 536.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 4.37 million. The stock has risen by 31.64% 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.