UBS Remains Sidelined on Tanger Factory Outlet Centers (SKT) - PT to $39

August 26, 2016 9:33 AM EDT
Get Alerts SKT Hot Sheet
Price: $35.80 +1.22%

Rating Summary:
    2 Buy, 8 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
Trade SKT Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

UBS reiterated a Neutral rating on Tanger Factory Outlet Centers (NYSE: SKT), and raised the price target to $39.00 (from $34.00), after adjusting estimates. UBS raised 2016 FFOPS estimates to $2.35 (from $2.31) and 2017 FFOPS estimates to $2.52 (from $2.48), primarily to reflect better than expected 1H16 operating results and the consolidation of SKT's partners interest in Savannah and Westgate.

Analyst Jeremy Metz commented, "SKT's solid balance sheet and defensive characteristics have been rewarded in today's current low rate, ultra-competitive retail environment. The portfolio is performing well and we think SKT is positioned to drive >3% NOI growth in the near term given steady outlet demand, limited availability (current occupancy of ~97%), and positive releasing spreads."

For an analyst ratings summary and ratings history on Tanger Factory Outlet Centers click here. For more ratings news on Tanger Factory Outlet Centers click here.

Shares of Tanger Factory Outlet Centers closed at $40.52 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities


Add Your Comment