Sei Investments Co. cut its stake in Tanger Inc. (NYSE:SKT – Free Report) by 34.3% in the first quarter, Holdings Channel.com reports. The fund owned 53,134 shares of the real estate investment trust’s stock after selling 27,717 shares during the quarter. Sei Investments Co.’s holdings in Tanger were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Tanger by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock worth $598,979,000 after purchasing an additional 789,935 shares during the last quarter. State Street Corp lifted its holdings in shares of Tanger by 3.4% in the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock valued at $202,924,000 after purchasing an additional 215,174 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tanger by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock valued at $96,111,000 after purchasing an additional 27,201 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Tanger by 11.3% in the 4th quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust’s stock valued at $81,019,000 after purchasing an additional 245,639 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Tanger by 13.0% in the 3rd quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock valued at $77,870,000 after purchasing an additional 264,408 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Scotiabank raised their price target on Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Barclays boosted their price objective on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, June 17th. LADENBURG THALM/SH SH lifted their target price on shares of Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, BMO Capital Markets upped their price target on shares of Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.70.
Tanger Stock Down 0.0%
SKT stock opened at $39.31 on Monday. Tanger Inc. has a one year low of $31.13 and a one year high of $42.53. The stock has a market capitalization of $4.52 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12. The company has a fifty day moving average of $39.81 and a 200-day moving average of $36.83.
Tanger (NYSE:SKT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The business had revenue of $156.39 million for the quarter, compared to analyst estimates of $142.58 million. During the same period in the previous year, the business posted $0.58 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, analysts expect that Tanger Inc. will post 2.48 EPS for the current year.
Tanger Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, July 31st. Tanger’s payout ratio is currently 113.64%.
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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