AlphaQuest LLC Has $939,000 Holdings in Tanger Inc. $SKT

Key Points

• AlphaQuest LLC significantly increased its holdings in Tanger Inc. by 11,622.8%, owning 27,783 shares valued at $939,000 as of the latest SEC filing.
• Tanger Inc. reported a quarterly EPS of $0.58, exceeding analysts' expectations, and set a FY 2025 guidance of 2.240-2.310 EPS.
• The company declared a quarterly dividend of $0.2925 per share, translating to an annualized yield of 3.5%, with a payout ratio of 132.95%.

AlphaQuest LLC increased its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 11,622.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,783 shares of the real estate investment trust's stock after buying an additional 27,546 shares during the quarter. AlphaQuest LLC's holdings in Tanger were worth $939,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Tanger during the 1st quarter worth $30,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Tanger by 3,451.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 1,415 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Tanger in the 4th quarter valued at about $68,000. Coppell Advisory Solutions LLC raised its stake in shares of Tanger by 144.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 1,399 shares during the period. Finally, Contravisory Investment Management Inc. raised its stake in shares of Tanger by 1,027.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 5,628 shares of the real estate investment trust's stock valued at $190,000 after purchasing an additional 5,129 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Tanger Stock Performance

Shares of SKT stock opened at $33.4940 on Friday. The company's fifty day simple moving average is $31.41 and its 200-day simple moving average is $31.79. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.31. The firm has a market cap of $3.79 billion, a PE ratio of 38.06, a P/E/G ratio of 2.16 and a beta of 1.23. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The business had revenue of $133.44 million for the quarter, compared to analyst estimates of $132.02 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Equities research analysts expect that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 31st. Tanger's dividend payout ratio is 132.95%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SKT shares. Evercore ISI raised Tanger to a "hold" rating in a research note on Friday, May 2nd. LADENBURG THALM/SH SH began coverage on shares of Tanger in a research report on Friday, July 18th. They issued a "buy" rating and a $35.00 price objective on the stock. Barclays began coverage on shares of Tanger in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $33.00 price objective on the stock. Finally, Wall Street Zen raised shares of Tanger from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.40.

About Tanger

Tanger Inc NYSE: SKT is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.