Algert Global LLC Purchases Shares of 61,810 Tanger Inc. $SKT

Key Points

• Algert Global LLC acquired 61,810 Tanger shares worth approximately $2.44 million, while institutional investors and hedge funds collectively own 85.23% of the company.
• Tanger exceeded quarterly expectations, reporting $0.29 EPS versus a $0.25 consensus estimate and $156.39 million in revenue, up 11.2% year over year. Management issued full-year 2026 EPS guidance of $2.45–$2.52.
• The company maintains a quarterly dividend of $0.3125, equivalent to a $1.25 annualized payout and a 3.3% yield. Analysts’ consensus rating is Hold, with an average price target of $40.40 versus a recent price of $37.73.

Algert Global LLC acquired a new position in shares of Tanger Inc. (NYSE:SKT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 61,810 shares of the real estate investment trust's stock, valued at approximately $2,440,000. Algert Global LLC owned 0.05% of Tanger at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. SHP Wealth Management bought a new position in shares of Tanger in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake in Tanger by 127.3% during the 2nd 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 raised its position in shares of Tanger by 43.2% during the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust's stock worth $33,000 after buying an additional 293 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Tanger during the 3rd quarter worth about $33,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Tanger in the 4th quarter worth approximately $34,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Stock Performance

SKT opened at $37.73 on Friday. The firm has a market cap of $4.33 billion, a PE ratio of 34.30, a P/E/G ratio of 1.85 and a beta of 1.10. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. The business has a fifty day simple moving average of $39.82 and a 200-day simple moving average of $37.39. Tanger Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $42.53.

Tanger (NYSE:SKT - Get Free Report) last announced its 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 return on equity of 17.72% and a net margin of 20.74%.The company 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 firm earned $0.58 earnings per share. Tanger's revenue for the quarter 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, equities analysts predict that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.3125 dividend. 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 presently 113.64%.

Analysts Set New Price Targets

A number of research firms recently commented on SKT. LADENBURG THALM/SH SH raised their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Evercore set a $39.00 target price on 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. Bank of America reiterated an "underperform" rating and set a $38.00 price target on shares of Tanger in a research report on Tuesday, June 16th. Finally, UBS Group set a $41.00 price objective on Tanger in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Tanger presently has a consensus rating of "Hold" and a consensus price target of $40.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source