Analysts Forecast 12% Upside For The Holdings of XSMO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 16 2025
0mins
Should l Buy SKT?
Source: NASDAQ.COM
ETF Analysis: The Invesco S&P SmallCap Momentum ETF (XSMO) has an implied analyst target price of $76.06, indicating an 11.92% upside from its current trading price of $67.96.
Stock Performance Insights: Notable underlying holdings such as Veeco Instruments, Tanger Inc, and ePlus Inc show significant potential upside based on analysts' target prices, raising questions about the validity of these targets amidst market conditions.
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Analyst Views on SKT
Wall Street analysts forecast SKT stock price to rise
7 Analyst Rating
3 Buy
4 Hold
0 Sell
Moderate Buy
Current: 33.610
Low
34.00
Averages
36.86
High
40.00
Current: 33.610
Low
34.00
Averages
36.86
High
40.00
About SKT
Tanger Inc. is an owner and operator of outlet and open-air retail shopping destinations, with expertise in the retail and outlet shopping industries. The Company is a fully integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlets and open-air shopping centers. Its outlet centers and other assets are held by, and all its operations are conducted by Tanger Properties Limited Partnership and subsidiaries (Operating Partnership). The Company operates about 38 outlet centers, one adjacent managed center and three open-air lifestyle centers comprising over 16 million square feet positioned across tourist destinations and markets in 21 United States (U.S.) states and Canada. It offers over 3,000 stores operated by more than 700 different brand name companies. Its consolidated outlet centers include Tanger Outlets Deer Park, Tanger Outlets Riverhead, Tanger Outlets Foley, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
Tanger (SKT) Declares $0.2925 Quarterly Dividend with 3.49% Yield
- Quarterly Dividend Announcement: Tanger has declared a quarterly dividend of $0.2925 per share, consistent with previous distributions, indicating the company's stable cash flow and profitability, which is likely to attract more investor interest.
- Yield Performance: The forward yield of 3.49% not only provides shareholders with a substantial return but may also enhance market attractiveness for Tanger's stock, promoting price stability.
- Shareholder Record Date: The dividend will be payable on February 13, with a record date of January 30 and an ex-dividend date also on January 30, ensuring shareholders receive their dividends promptly and boosting shareholder confidence.
- Enhanced Financing Capacity: Tanger recently closed $550 million in unsecured term loans, increasing its capacity by $225 million, providing financial support for future expansion and investments, reflecting the company's proactive financial management strategy.
See More
Tanger (SKT) Plans $200 Million Exchangeable Senior Notes Offering
- Financing Plan: Tanger Properties Limited Partnership intends to offer $200 million of exchangeable senior notes, which is expected to enhance liquidity for future growth initiatives.
- Additional Option: The initial purchasers have the option to buy an additional $30 million of notes, potentially boosting the company's financing capacity and market confidence.
- Debt Management: The company plans to use part of the net proceeds to repay $350 million of 3.125% senior notes, which is expected to improve its financial structure and reduce interest burdens.
- Share Buyback: Up to $20 million of net proceeds will be used for share repurchases, which could increase stock market prices and bolster investor confidence.
See More
Tanger® Increases Capacity by $225 Million to Enhance Liquidity
- Loan Capacity Increase: Tanger Properties Limited Partnership has closed on $550 million of unsecured term loans, increasing its loan capacity by $225 million, significantly enhancing liquidity while extending debt maturities and lowering financing costs.
- Increased Flexibility: The company drew $400 million at closing and has a combined $150 million under a delayed draw feature, allowing for further financial flexibility over the next six to nine months to adapt to market changes.
- Interest Rate Management: The new loans carry an interest rate of SOFR plus 95 basis points, and the company has implemented interest rate swaps to fix SOFR, ensuring stable financial conditions amid rate fluctuations.
- Strategic Support: This financing has strong backing from multiple banks, demonstrating market confidence in Tanger, while laying a solid financial foundation for the company's long-term growth prospects.
See More
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- Laser Defense System Delivery: Elbit Systems, in collaboration with the Israeli government, successfully delivered its first 'Iron Beam' laser defense system after extensive testing, which can effectively intercept drones, mortars, and short-range rockets, marking a significant breakthrough in defense technology.
- Market Expansion Potential: The successful delivery of this technology not only enhances Israel's defense capabilities but also opens up new international market opportunities for Elbit, which is expected to drive future revenue growth.
- Strong Stock Performance: Elbit Systems' stock has more than doubled in the past year, currently just 3% off its 52-week high, reflecting strong investor confidence in its innovative technologies.
- Competitive Advantage in Industry: By introducing the laser defense system, Elbit not only strengthens its competitive position in the defense sector but also has the potential to attract more procurement orders from various countries, further solidifying its market leadership.
See More
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- Abercrombie & Fitch Strong Performance: The company's stock surged 77% in a month, although it remains 25% below its January peak, suggesting initial success in its brand revitalization strategy.
- Victoria's Secret Continues to Rise: The brand's shares increased nearly 50% in a month and hit a new high last week, reflecting its competitive strength and shifts in consumer preferences.
- Bank Stocks Perform Well: Major banks like Bank of America and JPMorgan rose 8.5% and 9.4% respectively over the month, reaching all-time highs, indicating a robust recovery in the financial sector and increased investor confidence.
See More
