Allianz Asset Management GmbH Sells 38,069 Shares of Tanger Inc. $SKT

Allianz Asset Management GmbH lowered its position in Tanger Inc. (NYSE:SKT - Free Report) by 34.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,400 shares of the real estate investment trust's stock after selling 38,069 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.06% of Tanger worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of SKT. SHP Wealth Management bought a new position in shares of Tanger during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings 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 acquiring an additional 531 shares during the period. Fifth Third Bancorp boosted its holdings in Tanger by 43.2% during the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 293 shares during the period. Advisory Services Network LLC bought a new position in Tanger during the 3rd quarter worth approximately $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in Tanger during the 4th quarter worth approximately $41,000. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Performance

Shares of SKT opened at $37.29 on Wednesday. The company has a 50-day simple moving average of $39.45 and a two-hundred day simple moving average of $37.58. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a market capitalization of $4.28 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. Tanger Inc. has a one year low of $31.13 and a one year 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 the consensus estimate of $0.25 by $0.04. The firm had revenue of $156.39 million during the quarter, compared to analyst estimates of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The business's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. On average, analysts anticipate that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.3125 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.4%. Tanger's dividend payout ratio is currently 113.64%.

Analysts Set New Price Targets

SKT has been the subject of several recent research reports. Barclays boosted their price objective on Tanger from $41.00 to $42.00 and gave the company an "equal weight" rating in a research report on Monday, August 17th. Evercore set a $39.00 price target on shares of Tanger in a report on Tuesday, July 7th. Bank of America reissued an "underperform" rating and issued a $38.00 price target on shares of Tanger in a report on Tuesday, June 16th. Scotiabank boosted their price objective on shares of Tanger from $37.00 to $41.00 and gave the company a "sector perform" rating in a research report on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Tanger in a research note on Friday, July 17th. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $40.40.

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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