129,156 Shares in Tanger Inc. $SKT Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 129,156 Tanger shares worth approximately $5.1 million, while other major institutions also increased their positions. Institutional investors now own 85.23% of Tanger.
• Analysts maintain a generally neutral outlook, with two Buy, seven Hold, and one Sell rating and a consensus price target of $40.40. Tanger recently traded at $37.72.
• Tanger exceeded quarterly expectations, reporting $0.29 in earnings per share and $156.39 million in revenue, up 11.2% year over year. The REIT also paid a quarterly dividend of $0.3125 per share, representing a 3.3% yield.

Public Employees Retirement System of Ohio bought a new stake in Tanger Inc. (NYSE:SKT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 129,156 shares of the real estate investment trust's stock, valued at approximately $5,098,000. Public Employees Retirement System of Ohio owned about 0.11% of Tanger as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SKT. BlackRock Inc. increased its stake in shares of Tanger by 7.7% during the 2nd quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust's stock worth $876,688,000 after purchasing an additional 1,582,006 shares during the last quarter. Freestone Grove Partners LP lifted its stake in shares of Tanger by 6,634.5% in the 4th quarter. Freestone Grove Partners LP now owns 1,184,674 shares of the real estate investment trust's stock valued at $39,533,000 after purchasing an additional 1,167,083 shares during the last quarter. Jupiter Topco LLC bought a new stake in Tanger in the second quarter worth $33,960,000. Legal & General Group Plc acquired a new position in Tanger during the second quarter worth $31,684,000. Finally, Schonfeld Strategic Advisors LLC increased its position in Tanger by 2,190.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust's stock worth $28,181,000 after buying an additional 796,411 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SKT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Tanger from $35.00 to $40.00 and gave the company a "hold" rating in a research note on Wednesday, June 17th. Citigroup increased their price target on Tanger from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Evercore set a $39.00 price target on shares of Tanger in a research report on Tuesday, July 7th. UBS Group set a $41.00 price objective on shares of Tanger in a research note on Thursday, June 18th. Finally, Bank of America reaffirmed an "underperform" rating and set a $38.00 price objective on shares of Tanger in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $40.40.

Tanger Price Performance

NYSE:SKT opened at $37.72 on Thursday. 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 50-day moving average of $39.69 and a 200-day moving average of $37.50. Tanger Inc. has a 52 week low of $31.13 and a 52 week high of $42.53. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 1.86 and a beta of 1.10.

Tanger (NYSE:SKT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating 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 analysts' expectations of $142.58 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, equities research analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, July 31st. Tanger's dividend payout ratio (DPR) is 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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