Knights of Columbus Asset Advisors LLC decreased its holdings in Tanger Inc. (NYSE:SKT – Free Report) by 20.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,631 shares of the real estate investment trust’s stock after selling 26,381 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.09% of Tanger worth $3,358,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SKT. Royal Bank of Canada raised its stake in Tanger by 2.8% in the first quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock valued at $4,905,000 after buying an additional 3,995 shares during the last quarter. AQR Capital Management LLC raised its stake in Tanger by 17.8% in the first quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock valued at $1,291,000 after buying an additional 5,765 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tanger by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock valued at $2,171,000 after buying an additional 3,631 shares during the last quarter. United Services Automobile Association purchased a new stake in Tanger in the first quarter valued at about $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Tanger by 436.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock valued at $27,073,000 after buying an additional 651,961 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Bank of America reissued a “neutral” rating and set a $39.00 price objective on shares of Tanger in a report on Friday, March 6th. Barclays boosted their price objective on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Evercore set a $37.00 price objective on shares of Tanger in a report on Friday, May 1st. Finally, Scotiabank boosted their price objective on shares of Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.43.
Tanger Price Performance
Shares of SKT opened at $35.96 on Thursday. The firm has a market capitalization of $4.13 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 1.70 and a beta of 1.14. 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 Inc. has a 1-year low of $28.69 and a 1-year high of $37.95. The company’s fifty day moving average price is $35.67 and its 200-day moving average price is $34.61.
Tanger (NYSE:SKT – Get Free Report) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The business had revenue of $150.42 million for the quarter, compared to analyst estimates of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities research analysts predict that Tanger Inc. will post 2.46 EPS for the current year.
Tanger Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given a dividend of $0.3125 per share. This is a boost from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Thursday, April 30th. Tanger’s payout ratio is presently 116.82%.
Tanger 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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