B of A Securities Downgrades Tanger Inc. to Sell
B of A Securities cuts its rating on Tanger Inc. to sell, setting a $38 price target.
Key Points
- B of A Securities downgraded Tanger Inc. to a sell on June 16, 2026, with a new price target of $38.
- Tanger Inc. shares currently trade at $40.61, with a market cap of approximately $4.67 billion and a P/E ratio of 38.31.
- Recent insider activity includes sales by Bridget Ryan Berman and Thomas Joseph Guerrieri Jr., with notable purchases by Leslie Swanson Gallardo.
On June 16, 2026, B of A Securities downgraded Tanger Inc. (NYSE:SKT) to a sell, setting a price target of $38. Analyst Samir Khanal issued the downgrade, noting a bearish outlook for the real estate investment trust known for its outlet shopping centers. The announcement comes as Tanger's shares trade at $40.61.
Other Institutional Activity in Tanger Inc.
Several institutional investors have been active in Tanger Inc. BlackRock, Inc. reduced its holdings by 898,789 shares, bringing its total to 20,629,487 shares valued at around $701 million. Meanwhile, FMR LLC increased its stake by 3,279,798 shares, now holding 14,980,904 shares worth approximately $509 million. Vanguard Portfolio Management LLC and Vanguard Capital Management LLC both made significant additions, with new holdings of 11,935,801 and 5,160,546 shares, valued at $406 million and $175 million, respectively.
Tanger Inc. Stock Snapshot
Shares of Tanger Inc. (NYSE:SKT) are trading near $40.61. The company has a market cap of about $4.67 billion and a P/E ratio of 38.31. Its forward P/E is 32.95, with a beta of 1.09. Over the past year, the stock has ranged from a low of $29.24 to a high of $41.03. The 50-day moving average is $36.59, and the 200-day moving average is $34.55.
Recent Earnings
Tanger Inc. reported revenues of $611.2 million, with a growth rate of 11.7%. The company posted an EPS of $1.06, a net margin of 20.26%, and a return on equity of 18.99%. Investors are looking ahead to the next earnings report scheduled for August 4, 2026.
Dividend
Tanger Inc. offers an annual dividend rate of $1.19, yielding 2.93%. The dividend payout ratio stands at 110.38%.
Insider Buying and Selling at Tanger Inc.
Recent insider transactions include a sale by Bridget Ryan Berman of 14,698 shares at an average price of $35.24 on May 15, 2026. On the same day, Jeffrey Citrin bought 589 shares at $35.78. Thomas Joseph Guerrieri Jr., Senior Vice President and CAO, sold 1,325 shares at $35.48 on March 20, 2026, while Leslie Swanson Gallardo, EVP and COO, made both a purchase and a sale of 49,669 shares.
Analysts Set New Price Targets
On June 16, 2026, B of A Securities downgraded Tanger Inc. to a sell with a $38 target. BMO Capital maintained a hold rating on June 15, 2026, with a $42 target. Ladenburg Thalmann also maintained a buy rating, setting the same target. The consensus among analysts is a hold rating, with an average price target of $38.82 based on 11 opinions.
About Tanger Inc.
Tanger Inc. is a prominent owner and operator of outlet and open-air retail shopping destinations. Headquartered in Greensboro, North Carolina, the company manages a portfolio of 38 outlet centers and three open-air lifestyle centers across the U.S. and Canada. Under the leadership of CEO Stephen J. Yalof, Tanger has been a publicly traded REIT since 1993, with over 800 brand-name stores in its centers.
Bottom Line
B of A Securities' downgrade of Tanger Inc. to a sell reflects a cautious outlook for the company. The stock's current trading price and recent institutional activities provide a mixed picture of investor sentiment. As always, it's important to remember that analyst ratings are only one factor to consider when evaluating a stock, and the data reflects positions as of the report date.
See Also
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