Ultime notizie per Tanger (NYSE:SKT) Azioni

Tanger

Tanger Factory Outlet

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 Inc

SKYCHAIN TECHNOLOGIES INC by SkyChain Technologies Inc.

Skychain Technologies Inc

SK3 Group Inc

Skytop Lodge Corp

SKYTOP LODGE CORP 7 PFD by Skytop Lodge Corp.

Evercore ISI Group analyst Samir Khanal maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a In-Line and raises the price target from $31 to $33.

News

Price Target

Analyst Ratings

Evercore ISI Group Maintains In-Line on Tanger, Raises Price Target to $33

Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) reported quarterly earnings of $0.54 per share which beat the analyst consensus estimate of $0.53 by 1.89 percent. This is a 8 percent increase over earnings of $0.50 per share from the same period last year. The company reported quarterly sales of $133.00 million which beat the analyst consensus estimate of $124.70 million by 6.66 percent. This is a 13.34 percent increase over sales of $117.35 million the same period last year.

Earnings

Earnings Beats

Tanger Q3 FFO $0.54 Beats $0.53 Estimate, Sales $133.00M Beat $124.70M Estimate

Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) raises FY2024 FFO guidance from $2.05-2.12 to $2.09-2.13 vs $2.09 analyst estimate..

Guidance

Tanger Raises FY2024 FFO Guidance from $2.05-2.12 to $2.09-2.13 vs $2.09 Est

Compass Point analyst Floris Van Dijkum maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a Buy and raises the price target from $34 to $36.

Compass Point Maintains Buy on Tanger, Raises Price Target to $36

5 analysts have shared their evaluations of Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Tanger, presenting an average target of $31.8, a high estimate of $35.00, and a low estimate of $29.00. This current average reflects an increase of 7.43% from the previous average price target of $29.60. 
<img src="https://www.benzinga.com/files/images/story/2024/1728673292_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Tanger. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jeffrey Spector</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$35.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$31.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Floris Van Dijkum</td>
<td>Compass Point</td>
<td>Raises</td>
<td>Buy</td>
<td>$34.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$29.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$30.00</td>
<td>$28.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Tanger. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Tanger compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Tanger's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Tanger's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/SKT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Tanger analyst ratings.</a>
<h2>About Tanger</h2>
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.
<h3>Tanger: A Financial Overview</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Positive Revenue Trend: Examining Tanger's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 16.55% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Real Estate sector.
Net Margin: Tanger's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 19.08%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Tanger's ROE stands out, surpassing industry averages. With an impressive ROE of 4.44%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Tanger's ROA stands out, surpassing industry averages. With an impressive ROA of 1.07%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a high debt-to-equity ratio of 2.79, Tanger faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: Simplified</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cracking The Code: Understanding Analyst Reviews For Tanger

B of A Securities analyst Jeffrey Spector maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a Neutral and raises the price target from $31 to $35.

B of A Securities Maintains Neutral on Tanger, Raises Price Target to $35

Shares of Simon Property Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spg#NYSE">SPG</a>) have soared 17.4%% in the year-to-date period compared with its industry&#39;s growth of 7.8%.
This retail real estate investment trust&#39;s (REITs) portfolio of premium retail assets in the United States and abroad, the adoption of omnichannel retailing, focus on mixed-use developments and healthy balance sheet strength have enabled it to ride the growth curve so far.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/eb/80816.jpg?v=139820625" />
Image Source: Zacks Investment Research
Let us now decipher the factors behind the increase in the stock price and check whether the trend will last.
Simon Property enjoys a wide exposure to retail assets across the United States. Moreover, the company&#39;s international presence fosters sustainable long-term growth as compared with its domestically-focused peers. Its ownership stake in Kl&eacute;pierre facilitates the expansion of its global footprint, which gives it access to premium retail assets in the high barrier-to-entry markets of Europe. We believe that diversification, with respect to both product and geography, will help it grow over the long term.
In the first half of 2024, it signed 572 new leases and 1,251 renewal leases (excluding mall anchors and majors, new development, redevelopment and leases with terms of one year or less) with a fixed minimum rent across its U.S. Malls and Premium Outlets portfolio.
Given the favorable retail real estate environment, this leasing momentum is expected to continue in the upcoming quarters. As of June 30, 2024, the ending occupancy for the U.S. Malls and Premium Outlets portfolio came in at 95.6%, up 90 basis points from 94.7% as of June 30, 2023. We project the 2024 year-end occupancy for this portfolio to be 95.7%.
Simon Property&#39;s adoption of an omni-channel strategy and successful tie-ups with premium retailers have paid off well. Its online retail platform, coupled with an omnichannel strategy, is likely to be accretive to its long-term growth. The company is also focused on tapping its growth opportunities by assisting digital brands enhance their brick-and-mortar presence.
Also, its efforts to explore the mixed-use development option, which has gained immense popularity in recent years, has enabled it to tap the growth opportunities in areas where people prefer to live, work and play.
<h2>SPG&#39;s Balance Sheet &amp; ROE</h2>
The retail REIT maintains a healthy balance sheet position and has $11.2 billion of liquidity as of the end of the second quarter of 2024. As of June 30, 2024, Simon Property&#39;s total secured debt to total assets was 17%, while the fixed-charge coverage ratio was 4.3, ahead of the required level.
SPG also enjoys a corporate investment-grade credit rating of A- from Standard and Poor&#39;s and a senior unsecured rating of A3 from Moody&#39;s, rendering it favorable access to the debt market. The company&#39;s solid financial footing with ample financial flexibility is likely to support its growth endeavors going forward.
In addition, SPG&#39;s trailing 12-month return on equity is 78.14% compared with the industry&#39;s average of 6.28%. This reflects that the company is more efficient in using shareholders&#39; funds than its peers.
<h2>SPG&#39;s Dividend Payments</h2>
Solid dividend payouts are a massive enticement for REIT investors, and SPG has remained committed to boosting shareholder wealth. Encouragingly, the company has raised its dividend payout 11 times in the last five years, with the latest hike being announced in August 2024, concurrent with the second-quarter 2024 earnings release.
Given SPG&#39;s solid operating platform, opportunities for growth, and decent financial position compared with the industry, we expect the dividend rate to be sustainable in the upcoming period.
<h2>Risks Likely to Affect SPG&#39;s Positive Trend</h2>
rowing e-commerce adoption is likely to adversely impact the market share for brick-and-mortar stores and affect retail REITs including Simon Property. Limited consumers&#39; willingness to spend amid macroeconomic uncertainty poses key near-term concerns for the company.
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the retail REIT sector are Brixmor Property Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brx#NYSE">BRX</a>) and Tanger, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>), each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Brixmor&#39;s 2024 FFO per share is pinned at $2.13, suggesting year-over-year growth of 4.4%.
The Zacks Consensus Estimate for Tanger&#39;s 2024 FFO per share stands at $2.09, indicating an increase of 6.6% from the year-ago reported figure.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2347757/simon-property-soars-17-4-year-to-date-will-the-trend-last?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2347757">To read this article on Zacks.com click here.</a>

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Real Estate

Simon Property Soars 17.4% Year to Date: Will the Trend Last?

Media

On CNBC: Tanger Outlet CEO Discusses Shopping Trends, Consumer Demand

Shares of Kimco Realty (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kim#NYSE">KIM</a>) have soared 25.9% in the past three months compared with its industry&#39;s rally of 17.2%.
This Jericho, NY-based retail real estate investment trust (REIT) is well-poised to benefit from its portfolio of premium shopping centers, which are predominantly grocery-anchored, in the drivable first-ring suburbs within key major metropolitan Sunbelt and coastal markets. Its focus on developing mixed-use assets and a healthy balance sheet position bode well for long-term growth.
Analysts seem bullish on this Zacks Rank #3 (Hold) company. The Zacks Consensus Estimate for its 2024 FFO per share grew nearly 1% over the past month to $1.62.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/56/79021.jpg?v=1951636324" />
Image Source: Zacks Investment Research
Let&#39;s find out the factors behind the surge in the stock price.
Kimco&#39;s properties are located in the drivable first-ring suburbs within key major metropolitan Sunbelt and coastal markets. Particularly, 82% of the annual base rent (&quot;ABR&quot;) comes from its top major metro markets. Given the strategic location of its properties, it is likely to witness healthy demand in the near term, boosting leasing activity.
Kimco enjoys a diverse tenant base, led by a healthy mix of essential, necessity-based tenants and omni-channel retailers. National/regional tenants accounted for 81% of Kimco&#39;s pro rata ABR as of the end of the second quarter of 2024. Given the strength of its retailers with a developed omnichannel presence, the company is likely to be able to generate stable cash flows.
During uncertain times, the grocery component saved the grace of the retail REITs. As of June 30, 2024, RPT&#39;s acquisition has boosted its ABR from grocery-anchored centers to 83% from 81% in 2022. KIM has set a target to reach 85% of its ABR from this segment.
In the second quarter of 2024, Kimco witnessed 54 consecutive quarters of positive leasing spreads, indicating solid pricing power across its high-quality portfolio. Also, retention rates for the grocery portfolio remain higher compared with the non-grocery portfolio. Given the necessity-driven nature of Kimco&#39;s grocery-anchored portfolio, it is likely to continue witnessing healthy leasing activity in the upcoming period and remains well-positioned to tide over challenging times.
Apart from having a focus on grocery and home-improvement tenants, the company emphasizes mixed-use assets clustered in strong economic metropolitan statistical areas. The mixed-use assets category is benefiting from the recovery in both the apartment and retail sectors.
<h2>KIM&#39;s Strategic Acquisition &amp; Redevelopment Projects</h2>
Kimco has been following an opportunistic investment policy to enhance its overall portfolio quality. This includes divesting its joint venture assets and using the proceeds to fund acquisitions and development and redevelopment projects. In the first half of 2024, the company disposed of 11 operating properties and seven land parcels in separate transactions for an aggregate sales price of $254.1 million.
The acquisition of RPT in January 2024 has benefited the company by increasing scale in high-growth target markets and preserving balance sheet strength. The company remains confident in achieving its 2024 acquisitions range of $300 million to $350 million, which is inclusive of structured investments.
It is actively pursuing redevelopment opportunities within its operating portfolio. The company projects its capital commitment toward these redevelopment projects and re-tenanting efforts for the remainder of 2024 will be within $225-$275 million.
<h2>KIM&#39;s Solid Balance Sheet Position</h2>
Moreover, Kimco maintains a solid balance sheet position. It exited the second quarter of 2024 with $1.9 billion of immediate liquidity. Its consolidated weighted average debt maturity profile is 8.7 years. It also enjoys investment-grade ratings of BBB+ from S&amp;P and Baa1 from Moody&#39;s, rendering it favorable access to the debt market. With a healthy financial footing, KIM is well-positioned to capitalize on long-term growth opportunities.
<h2>Risks Likely to Affect KIM&#39;s Positive Trend</h2>
A rise in e-commerce adoption and efforts of online retailers to go deeper into the grocery business are concerns. Kimco faces competition from several real estate companies and developers who compete with the company for leasing space in shopping centers for tenants. This may affect Kimco&#39;s ability to raise rental rates, including renewal rates and fill up vacancies.
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the retail REIT sector are Tanger Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>) and Brixmor Property Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brx#NYSE">BRX</a>), each currently carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for SKT&#39;s 2024 FFO per share stands at $2.09, indicating an increase of 6.6% from the year-ago reported figure.
The Zacks Consensus Estimate for BRX&#39;s 2024 FFO per share is pinned at $2.13, suggesting year-over-year growth of 4.4%.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2340754/kimco-realty-stock-rises-25-9-in-three-months-here-s-how?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2340754">To read this article on Zacks.com click here.</a>

Kimco Realty Stock Rises 25.9% in Three Months: Here's How

Evercore ISI Group analyst Samir Khanal maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a In-Line and raises the price target from $29 to $31.

Evercore ISI Group Maintains In-Line on Tanger, Raises Price Target to $31

Leslie Gallardo Swanson, EVP at Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), disclosed an insider sell on September 11, according to a recent SEC filing.
What Happened: Swanson opted to sell 17,900 shares of Tanger, according to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000899715/000089971524000126//Archives/edgar/data/899715/000089971524000126/0000899715-24-000126-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday. The transaction's total worth stands at $550,246.
Tanger's shares are actively trading at $30.91, experiencing a down of 0.0% during Thursday's morning session.
<h3>Delving into Tanger's Background</h3>
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.
<h3>Key Indicators: Tanger's Financial Health</h3>
Revenue Growth: Tanger's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 16.55%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Real Estate sector.
Profitability Metrics: Unlocking Value
<ul>
<li>
Gross Margin: The company issues a cost efficiency warning with a low gross margin of 70.88%, indicating potential difficulties in maintaining profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Tanger's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.23.
</li>
</ul>
Debt Management: Tanger's debt-to-equity ratio stands notably higher than the industry average, reaching 2.79. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
Evaluating Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The P/E ratio of 34.34 is lower than the industry average, implying a discounted valuation for Tanger's stock.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 6.76 is lower than the industry average, implying a discounted valuation for Tanger's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an EV/EBITDA ratio of 17.41, the company's market valuation exceeds industry averages.
</li>
</ul>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
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<h3>Unmasking the Significance of Insider Transactions</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>Transaction Codes To Focus On</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000899715">Check Out The Full List Of Tanger's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Tanger Recent Insider Activity

Compass Point analyst Floris Van Dijkum maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a Buy and raises the price target from $32 to $34.

Compass Point Maintains Buy on Tanger, Raises Price Target to $34

Real estate has been having a decent 2024. The S&amp;P 500 Real Estate Select Sector SPDR (ARCA:XLRE) has advanced 11.1% year to date as of Sept. 4. The sector declined till the end of June. However, optimism about the Fed introducing rate cuts in the economy and falling mortgage rates seem to have triggered a turnaround.
Buoyed by signals from the Fed, the benchmark 30-year average mortgage rate fell to 6.5% late last week, its lowest level since May 2023. The 30-year fixed-rate mortgage fell further on Aug. 30 to 6.37%. The National Association of Realtors (&quot;NAR&quot;) expects the 30-year fixed mortgage rate to average 6.9% in its recent quarterly forecast published in June. This is an upward revision from its previous forecast of 6.7%. NAR has also revised its forecast upward for the fourth quarter to 6.5-6.7%. It expects that the second half of 2024 will witness moderately lower mortgage rates, higher home sales and price stability.
Elevated mortgage rates have reduced affordability and hence, dampened home sales. It has also put pressure on existing homeowners with adjustable-rate mortgages who have seen their monthly payments go through the roof. Overall confidence in the housing market remains fairly subdued, according to the NAHB/Wells Fargo Housing Market Index (HMI). The index changed only slightly in July, falling to 42 from 43 in June.
However, with rate cuts almost certainly starting from September, coupled with the fact that mortgage rates are coming down, there might be better times ahead for home buyers. Even in case of an unlikely recession, a higher inventory of homes would bring prices further down, luring first-time buyers. One must, thus, start considering parking part of their investments in promising stocks in the sector.
<h2>Our Picks</h2>
We have narrowed our search to three real estate or related stocks that have good potential. These stocks have seen positive earnings estimate revisions in the past 60 days. Our picks carry either a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Two Harbors Investment Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/two#NYSE">TWO</a>) is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets.
TWO has an expected earnings growth rate of 757.1% for the current year. The Zacks Consensus Estimate for its current-year earnings has surged 178% over the past 60 days. TWO currently sports a Zacks Rank #1.
Tanger Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>) is a real estate investment trust primarily investing in shopping centers.
SKT has an expected earnings growth rate of 6.6% for the current year. The Zacks Consensus Estimate for its current-year earnings has improved 1.5% over the past 60 days. SKT currently holds a Zacks Rank #2.
Dynex Capital, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dx#NYSE">DX</a>) is a mortgage real estate investment trust.
DX has an expected earnings growth rate of 205.3% for the current year. The Zacks Consensus Estimate for its current-year earnings has improved 33.3% over the past 60 days. DX currently holds a Zacks Rank #2.
<a href="https://www.zacks.com/stock/news/2331985/3-real-estate-stocks-to-grab-now-on-slowing-mortgage-rates?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2331985">To read this article on Zacks.com click here.</a>

Small Cap

XLRE

3 Real Estate Stocks to Grab Now on Slowing Mortgage Rates

In a recent update, SITE Centers Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sitc#NYSE">SITC</a>) has announced that from the beginning of the third quarter of 2024 through Aug. 29, 2024, it has sold 11 wholly-owned shopping centers for $552.7 million. This retail REIT also purchased four convenience properties for a gross price of $88 million. This included Crocker Commons in Cleveland, OH; Maple Corner in Nashville, TN; Village Plaza in Houston, TX; and Brookhaven Station in Atlanta, GA.
As previously announced, the company has successfully closed and funded a mortgage facility amounting to $530 million, which is secured by 23 properties. Additionally, it has repaid its unsecured term loan of $200 million, terminated its revolving credit facility of $950 million and executed a one-for-four reverse stock split of its common shares. Moreover, in August, the company redeemed all of its outstanding senior unsecured notes, resulting in no remaining unsecured debt.
SITE Centers has been following an aggressive capital-recycling program through which it is divesting slow-growth assets and redeploying the proceeds for the acquisitions of premium U.S. shopping centers. These centers offer strong opportunities for rent growth and redevelopment activities.
<h2>The Initiative Strengthens SITC&#39;s Balance Sheet Position</h2>
Such match-funding initiatives relieve pressure off the company&#39;s balance sheet while paving the way for top-line and cash-flow growth and adding value to the portfolio in the long term.
This retail REIT has a healthy balance sheet position with ample liquidity. As of June 30, 2024, it had $2.1 billion of liquidity and an average pro-rata net debt to adjusted EBITDA of 3.4X and fixed charge coverage was 3.9X.
It also enjoys investment-grade credit ratings of BBB-/Baa3/BBB from S&amp;P/ Moody&#39;s/ Fitch, respectively, which render it favorable access to the debt market. With strong financial footing and enough financial flexibility, it is well-placed to capitalize on long-term growth opportunities.
However, given the conveniences of online shopping, growing e-commerce adoption is concerning for SITE Centers. Potential tenant bankruptcies in the near term could affect its profitability and hurt occupancy. A high interest rate environment remain concern.
In the past six months, shares of this Zacks Rank #3 (Hold) company have gained 8.4%, outperforming the industry&#39;s growth of 4.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3a/76277.jpg?v=2001993691" />
Image Source: Zacks Investment Research
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the retail REIT sector are Brixmor Property Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brx#NYSE">BRX</a>) and Tanger, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>), each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Brixmor Properties&#39; 2024 FFO per share has moved marginally northward over the past month to $2.13.
The Zacks Consensus Estimate for Tanger&#39;s ongoing year&#39;s FFO per share has been raised 1.5% upward over the past month to $2.09.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2330535/site-centers-disposes-of-11-shopping-centers-and-acquires-4?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2330535">To read this article on Zacks.com click here.</a>

Retail Sales

SITC

SITE Centers Disposes of 11 Shopping Centers and Acquires 4

Regency Centers (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/reg#NASDAQ">REG</a>) recently announced the opening of Oakley Shops at Laurel Fields, a new ground-up development anchored by Safeway in Oakley, CA.
Oakley Shops represents Regency&#39;s first development in the Northern California submarket and will encompass around 79,000 square feet of retail space. This development will be located at the signalized intersection of Laurel Road and O&#39;Hara Avenue, aiming to fill the gap of insufficient high-quality retail and grocery options in the surrounding area.
Safeway is set to occupy around 56,000 square feet at Oakley Shops, with an additional 23,000 square feet dedicated to quality retail, restaurant and essential services. Several prospective merchants are presently engaged in different stages of lease negotiations and discussions, with further announcements expected in the near future.
Regency is well-poised to benefit from its strategically located portfolio of premium shopping centers, concentrated in affluent suburban areas and near urban trade areas where consumers have high spending power. Over the years, the company has made several developments in the key markets of the United States to bolster growth.
In the second quarter, REG started approximately $40 million of new development and redevelopment projects, bringing total project starts to $120 million since the beginning of the year through Aug. 1, 2024. As of June 30, 2024, Regency Centers&#39; in-process development and redevelopment projects had estimated net project costs of $578 million. Given the company&#39;s prudent financial management, it is well-poised to capitalize on such opportunities.
<h2>Conclusion</h2>
Given the prime location of the property and its popularity, it is likely to draw in substantial consumer footfall and drive sales, making the move strategic for Regency.
Over the past three months, shares of this Zacks Rank #2 (Buy) company have gained 20.2% compared with the industry&#39;s growth of 14.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/37/75606.jpg?v=67651740" />
Image Source: Zacks Investment Research
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<h2>Other Stocks to Consider</h2>
Some other top-ranked stocks from the retail REIT sector are Simon Property Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spg#NYSE">SPG</a>) and Tanger. Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>), each carrying a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Simon Property&#39;s 2024 FFO per share stands at $12.85, indicating an increase of 2.7% from the year-ago reported figure.
The Zacks Consensus Estimate for Tanger&#39;s 2024 FFO per share is pinned at $2.09, suggesting year-over-year growth of 6.6%.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2327884/regency-starts-safeway-anchored-oakley-shops-development?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2327884">To read this article on Zacks.com click here.</a>

Management

Regency Starts Safeway-Anchored Oakley Shops' Development

Evercore ISI Group analyst Samir Khanal maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a In-Line and raises the price target from $28 to $29.

Evercore ISI Group Maintains In-Line on Tanger, Raises Price Target to $29

Scotiabank analyst Nicholas Yulico maintains Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) with a Sector Perform and raises the price target from $28 to $30.

Scotiabank Maintains Sector Perform on Tanger, Raises Price Target to $30

Tanger Sees FY24 Core FFO $2.05-$2.12

Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>) reported quarterly earnings of $0.53 per share which beat the analyst consensus estimate of $0.52 by 1.92 percent. The company reported quarterly sales of $128.956 million which beat the analyst consensus estimate of $122.216 million by 5.51 percent. This is a 16.55 percent increase over sales of $110.641 million the same period last year.

Tanger Q2 2024 FFO $0.53 Beats $0.52 Estimate, Sales $128.956M Beat $122.216M Estimate

Simon Property (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spg#NYSE">SPG</a>) and bp&#39;s global EV charging business, bp pulse joined hands for the installation and operation of more than 900 ultra-fast EV chargers at 75 sites in the United States. The move will benefit Simon in expanding its EV charging options across its portfolio and lure more shoppers.
The first location with chargers from bp pulse will be made open to the public in early 2026 and support vehicles from nearly all EV makers. The Simon portfolio aligns with bp pulse&#39;s strategy to deploy ultra-fast charging across the West Coast, East Coast, Sun Belt and Great Lakes.
Simon focuses on providing best-in-class brands, amenities, experiences and sustainable practices to their customers and the communities it serves. The latest move is also in line with such efforts and is likely to drive healthy demand for its properties, aiding leasing activity, occupancy levels and rent growth.
Simon Property has been restructuring its portfolio, aiming at premium acquisitions and transformative redevelopments. In fact, over the past years, the company has been investing billions to transform its properties, focusing on creating value and driving footfall.
Its focus on supporting omnichannel retailing and developing mixed-use assets is encouraging. Simon Property also capitalized on buying recognized retail brands in bankruptcy. With the brands generating a decent amount from digital sales, investments in them seem strategic for Simon Property.
Over the past three months, shares of this Zacks Rank #3 (Hold) company have increased 2.5% compared with the industry&#39;s rise of 2.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/33/71140.jpg?v=1242727882" />
Image Source: Zacks Investment Research
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the retail REIT sector are Tanger Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>) and Realty Income (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/o#NYSE">O</a>), each currently carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for SKT&#39;s 2024 FFO per share stands at $2.06, indicating an increase of 5.1% from the year-ago reported figure.
The Zacks Consensus Estimate for O&#39;s 2024 FFO per share is pinned at $4.21, suggesting year-over-year growth of 5.3%.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2300261/simon-property-spg-bp-team-up-to-expand-ev-charging-network?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2300261">To read this article on Zacks.com click here.</a>

Simon Property & Bp Team Up to Expand EV Charging Network

Tanger Factory: 3.5% Yield, Margin Of Safety, Moderate FFO Multiple

Tanger: Fast Dividend Growth And Attractive Valuation

The latest announcement is out from Tanger Factory ( ($SKT) ). Tanger Inc. announced the election of Sonia Syngal, a seasoned leader with almost th...

Tanger Factory Boosts Board with Retail Industry Veteran

The Top Five long crowded stocks in each U.S. sector

Tanger declares $0.275 dividend

In a report released today, Floris van Dijkum from Compass Point maintained a Buy rating on Tanger (SKT – Research Report), with a price target of ...

Compass Point Remains a Buy on Tanger (SKT)

Compass Point analyst Floris van Dijkum raised the firm's price target on Tanger Factory (SKT) to $36 from $34 and keeps a Buy rating on the shares...

Tanger Factory price target raised to $36 from $34 at Compass Point

Tanger FFO of $0.54 beats by $0.01, revenue of $133M beats by $5.88M

Tanger Q3 earnings beat; full-year guidance raised

Tanger Inc. (SKT) Q3 2024 Earnings Call Transcript

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Press Releases

Tanger to Present at Nareit's REITweek 2024 Investor Conference

Commodities

Tanger Releases 2023 Environmental, Social, and Governance Report

Tanger Expands Partnership with Sephora

Tanger Inc. Receives 2024 Nareit Investor CARE Gold Award for Excellence in Communications and Reporting

Tanger Declares Dividend Payable August 15, 2024

Tanger Reports Second Quarter Results and Raises Full-Year 2024 Guidance

Tanger Schedules Third Quarter 2024 Earnings Release and Conference Call

Tanger Announces the Election of Retail Industry Leader Sonia Syngal to its Board of Directors

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