42,933 Shares in Tanger Inc. $SKT Acquired by Lazard Asset Management LLC

Key Points

• Lazard Asset Management acquired 42,933 shares of Tanger, valued at approximately $1.46 million, while institutional investors collectively own 85.23% of the company.
• Analysts maintain a consensus “Hold” rating, with an average price target of $39.70; Tanger shares recently opened at $40.83, near their 12-month high of $42.53.
• Tanger exceeded quarterly earnings expectations, reporting $0.64 in EPS versus the $0.25 consensus and $148.27 million in revenue. The company also declared a quarterly dividend of $0.3125 per share, representing a 3.1% annualized yield.

Lazard Asset Management LLC purchased a new stake in Tanger Inc. (NYSE:SKT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 42,933 shares of the real estate investment trust's stock, valued at approximately $1,459,000.

A number of other hedge funds have also recently made changes to their positions in the company. SHP Wealth Management bought a new position in shares of Tanger in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC boosted its stake in Tanger by 127.3% during the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 531 shares during the period. Fifth Third Bancorp boosted its stake in Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 293 shares during the period. Advisory Services Network LLC purchased a new position in Tanger during the third quarter worth about $33,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Tanger during the fourth quarter worth about $34,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKT has been the topic of several recent analyst reports. BMO Capital Markets raised their price target on Tanger from $40.00 to $42.00 and gave the company a "market perform" rating in a report on Monday, June 15th. LADENBURG THALM/SH SH boosted their price objective on Tanger from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Evercore set a $39.00 price objective on shares of Tanger in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Tanger in a research note on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tanger from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.70.

Tanger Price Performance

Shares of Tanger stock opened at $40.83 on Wednesday. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67. The firm has a market capitalization of $4.69 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The business's 50-day moving average price is $39.60 and its 200-day moving average price is $36.70. Tanger Inc. has a 12 month low of $30.62 and a 12 month high of $42.53.

Tanger (NYSE:SKT - Get Free Report) last released its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.39. The company had revenue of $148.27 million during the quarter, compared to the consensus estimate of $142.58 million. Tanger had a return on equity of 17.53% and a net margin of 20.76%.Tanger's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Sell-side analysts forecast that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.1%. Tanger's dividend payout ratio (DPR) is 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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