Tanger Sees Downgrade After Spectacular Upswing
November 21, 2023
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Tanger Inc ($NYSE:SKT)., a publicly traded company that has seen a spectacular upswing in recent months, has recently been downgraded in rating. This downgrade has resulted in Tanger no longer being made available for purchase following the great gains it had made. Tanger Inc. is a leading retailer of branded footwear and accessories. The company offers its customers the most popular brands of shoes, handbags, and other fashion accessories at discounted prices. With an impressive portfolio of brands like Coach, Nike, and Gucci, Tanger Inc. has seen tremendous success over the years. Despite its success, Tanger Inc. has recently seen a significant downgrade in rating.
This downgrade has resulted in the company no longer being offered for purchase on the stock market. This is a major setback for the company, as it was experiencing incredible upside momentum before this downgrade occurred. The downgrade has already taken a toll on Tanger Inc., as its stock price has dropped considerably since the news broke. Investors will need to watch closely to see if this downgrade will have a lasting effect on the company. For now, Tanger Inc. is no longer available for purchase following its spectacular upswing, leaving many to speculate what comes next for the company.
Market Price
TANGER INC saw a dramatic drop after experiencing a spectacular upswing earlier this week. On Monday, the company opened at $25.5 and closed at $25.3, representing a decrease of 0.9% from the previous closing price of 25.6. This decrease has resulted in a downgrade for the stock, leaving investors wondering what will come next for TANGER INC. Although the company has seen a major dip in the market, it remains to be seen if the stock will recover or continue to remain low. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tanger Inc. More…
| Total Revenues | Net Income | Net Margin |
| 453.39 | 92.68 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tanger Inc. More…
| Operations | Investing | Financing |
| 243.33 | -154.59 | -80.66 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tanger Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.21k | 1.69k | 4.66 |
Key Ratios Snapshot
Some of the financial key ratios for Tanger Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 27.9% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale has conducted an analysis of TANGER INC‘s fundamentals and based on our Star Chart, TANGER INC is strong in dividend and medium in asset, growth, and profitability. Considering this, we can conclude that TANGER INC is classified as a ‘cow’, meaning it has the track record of paying out consistent and sustainable dividends. Investors who are looking for consistent and sustainable dividends in the long term may be interested in such a company. Additionally, TANGER INC has an intermediate health score of 5 out of 10 considering its cashflows and debt, which suggests that it might be able to pay off debt and fund future operations. More…
Peers
Its closest competitors are Brixmor Property Group Inc, Kimco Realty Corp, and Riocan Real Estate Investment Trust. Tanger has a diversified portfolio of outlet centers, which provides it with a competitive advantage.
– Brixmor Property Group Inc ($NYSE:BRX)
Brixmor Property Group Inc is a publicly traded real estate investment trust that owns and operates a portfolio of shopping centers in the United States. As of 2022, the company’s market capitalization was $6.54 billion. Brixmor’s portfolio consists of 523 shopping centers, totaling 86 million square feet of retail space. The company’s properties are located in 42 states and Puerto Rico.
– Kimco Realty Corp ($NYSE:KIM)
Kimco Realty Corp is a real estate investment trust that owns and operates open-air shopping centers. As of December 31, 2020, the company owned interests in 527 shopping centers comprising 87 million square feet of leasable space across the United States, Puerto Rico, Canada, and Chile. Kimco Realty Corp was founded in 1966 and is headquartered in New Hyde Park, New York.
– Riocan Real Estate Investment Trust ($TSX:REI.UN)
Riocan Real Estate Investment Trust has a market cap of 5.98B as of 2022. The company focuses on owning and operating real estate properties in Canada. The company’s portfolio includes retail, office, and industrial properties.
Summary
Tanger Inc. has recently seen a downgrade in their stock rating following the end of their promotional ‘Fantastic Upside’ program. This has caused investors to reassess their investment in the company, and some may be choosing to sell off their stocks as a precautionary measure. In order to better assess a potential investment in Tanger Inc., investors must carefully research the company’s financials, competitive landscape, and management team.
Additionally, it is important to consider the company’s future prospects, such as new products or markets, and any potential risks. Investors should also consult with a financial advisor or other professional before making an investment decision about Tanger Inc.
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