Citi upgraded Tanger Factory to Buy from Neutral with a price target of $33, up from $30. The analyst likes the company’s premium internal growth profile and its ability to deploy capital into accretive acquisitions. Tanger’s operating fundamentals continue to improve as the new management team has improved occupancy cost ratios to nearly 9% with upside into the 10%-12% range, the analyst tells investors in a research note.
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Read More on SKT:
- Tanger Factory price target raised to $31 from $29 at Compass Point
- Tanger Factory Unveils Q4 and Annual Financial Results
- Tanger Reports Fourth Quarter and Full Year 2023 Results and Introduces 2024 Guidance
- Tanger Factory sees FY24 core FFO $2.02-$2.10, consensus $2.03
- Tanger Factory reports Q4 core FFO 52c, consensus 49c
