Is Tanger, Inc. overvalued or undervalued?

As of 30 June 2025, the valuation grade for Tanger, Inc. has moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is deemed overvalued based on its P/E ratio of 36, which is considerably higher than the industry average, and an EV to EBITDA ratio of 21.66, also above typical market levels. Additionally, the Price to Book Value stands at 5.40, further supporting the conclusion of overvaluation.
In comparison to peers, Cousins Properties, Inc. has a P/E of 82.34 and Broadstone Net Lease, Inc. shows a more attractive P/E of 24.20, highlighting that Tanger, Inc. is trading at a premium relative to some competitors. While the company has shown strong long-term performance with a 5-year return of 428.28% compared to the S&P 500's 96.61%, its recent performance has lagged, with a year-to-date return of -0.94% against the S&P 500's 12.22%. This suggests that despite past successes, current valuations may not be justified given the recent underperformance.