SKT Stock Summary and Trading Ideas (Tanger | NYSE:SKT)

Tanger Inc is a leading owner and operator of outlet and open-air retail shopping destinations. Tanger's portfolio of 38 outlet centers and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in U.S. states and Canada.

Tanger trades on the NYSE stock market under the symbol SKT.

As of April 26, 2024, SKT stock price climbed to $28.88 with 509,265 million shares trading.

SKT has a beta of 1.24, meaning it tends to be more sensitive to market movements. SKT has a correlation of 0.33 to the broad based SPY ETF.

SKT has a market cap of $3.15 billion. This is considered a Mid Cap stock.

In the last 3 years, SKT stock traded as high as $29.98 and as low as $13.26.

The top ETF exchange traded funds that SKT belongs to (by Net Assets): IJR, VNQ, VTI, VB, IWM.

SKT has outperformed the market in the last year with a price return of +62.1% while the SPY ETF gained +26.8%. However, in the short term, SKT had mixed performance relative to the market. It has underperformed in the last 3 months, returning +4.3% vs +4.5% return in SPY. But in the last 2 weeks, SKT shares have fared better than the market returning +6.8% compared to SPY -1.9%.

SKT support price is $28.15 and resistance is $29.19 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SKT stock will trade within this expected range on the day.