Boenning & Scattergood Sticks to Their Hold Rating for Tanger Factory

By Carrie Williams

Boenning & Scattergood analyst Floris van Dijkum maintained a Hold rating on Tanger Factory (NYSE: SKT) today. The company’s shares closed yesterday at $21.81, close to its 52-week low of $21.14.

van Dijkum noted:

“We continue to rate SKT Neutral as the company has a solid balance sheet, but the lack of underlying growth and development will result in poor earnings momentum during 2018.”

According to TipRanks.com, Dijkum is a 3-star analyst with an average return of 2.8% and a 53.3% success rate. Dijkum covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate ate Investment, Retail Properties of America Inc, and General Growth Properties Inc.

Tanger Factory has an analyst consensus of Hold, with a price target consensus of $24.

Tanger Factory’s market cap is currently $2.06B and has a P/E ratio of 31.16. The company has a book value ratio of 3.5462.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock.

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Tanger Factory Outlet Centers, Inc. engages in the provision of real investments. Its activities include development, acquisition, ownership, operation, and management of outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.