Compass Point raised the firm’s price target on Tanger Factory to $31 from $29 and keeps a Neutral rating on the shares as the firm is raising its 2024 and 2025 estimates based on the company’s “solid reported results” and initial 2024 guidance. The firm cites the company’s high relative valuation to sector peers, despite its portfolio having significantly lower tenant sales productivity, for its Neutral rating.
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- Tanger Reports Fourth Quarter and Full Year 2023 Results and Introduces 2024 Guidance
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- Tanger Factory reports Q4 core FFO 52c, consensus 49c
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