UBS Group AG trimmed its stake in Tanger Inc. (NYSE:SKT – Free Report) by 73.8% during the fourth quarter, Holdings Channel reports. The fund owned 391,202 shares of the real estate investment trust’s stock after selling 1,100,864 shares during the period. UBS Group AG’s holdings in Tanger were worth $13,054,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Tanger by 31.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock worth $5,124,000 after purchasing an additional 37,163 shares during the period. Truist Financial Corp grew its holdings in Tanger by 736.7% during the third quarter. Truist Financial Corp now owns 61,533 shares of the real estate investment trust’s stock valued at $2,082,000 after purchasing an additional 54,179 shares during the period. American Century Companies Inc. grew its holdings in Tanger by 1,459.4% during the third quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock valued at $26,662,000 after purchasing an additional 737,354 shares during the period. Elo Mutual Pension Insurance Co increased its position in Tanger by 131.6% in the third quarter. Elo Mutual Pension Insurance Co now owns 35,714 shares of the real estate investment trust’s stock worth $1,209,000 after buying an additional 20,292 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Tanger by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 984,836 shares of the real estate investment trust’s stock worth $33,327,000 after buying an additional 207,199 shares during the last quarter. 85.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently commented on SKT shares. Barclays upped their price target on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday. Bank of America reissued a “neutral” rating and issued a $39.00 price objective on shares of Tanger in a report on Friday, March 6th. Evercore set a $37.00 price objective on Tanger in a research note on Friday, May 1st. Scotiabank upped their price objective on shares of Tanger from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Tuesday, March 24th. Finally, Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.29.
Tanger Trading Up 1.0%
NYSE:SKT opened at $35.77 on Friday. The company has a market cap of $4.11 billion, a P/E ratio of 33.43, a P/E/G ratio of 1.68 and a beta of 1.14. The stock’s fifty day moving average price is $35.74 and its two-hundred day moving average price is $34.46. Tanger Inc. has a 1 year low of $28.69 and a 1 year high of $37.95. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36.
Tanger (NYSE:SKT – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.04). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The company had revenue of $150.42 million during the quarter, compared to analysts’ expectations of $142.94 million. During the same quarter last year, the firm posted $0.53 earnings per share. Tanger’s revenue for the quarter was up 11.1% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, analysts expect that Tanger Inc. will post 2.46 EPS for the current year.
Tanger Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, April 30th. This is a boost from Tanger’s previous quarterly dividend of $0.29. Tanger’s payout ratio is presently 116.82%.
Tanger Company Profile
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.
Founded in 1981 by Stanley K.
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