AlphaQuest LLC Buys 27,546 Shares of 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 position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 11,622.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,783 shares of the real estate investment trust's stock after acquiring an additional 27,546 shares during the quarter. AlphaQuest LLC's holdings in Tanger were worth $939,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SKT. Nuveen LLC acquired a new position in shares of Tanger during the 1st quarter valued at $57,926,000. Nuveen Asset Management LLC lifted its holdings in shares of Tanger by 78.6% during the 4th quarter. Nuveen Asset Management LLC now owns 1,714,769 shares of the real estate investment trust's stock valued at $58,525,000 after acquiring an additional 754,429 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Tanger by 56.4% during the 4th quarter. Northern Trust Corp now owns 1,817,052 shares of the real estate investment trust's stock valued at $62,016,000 after acquiring an additional 655,237 shares in the last quarter. Vanguard Group Inc. increased its stake in Tanger by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 17,511,443 shares of the real estate investment trust's stock worth $591,712,000 after buying an additional 193,141 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in Tanger during the 1st quarter worth $6,296,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Tanger Trading Up 0.2%

Shares of SKT stock traded up $0.06 during trading hours on Friday, reaching $34.06. 170,812 shares of the stock traded hands, compared to its average volume of 936,349. Tanger Inc. has a 1-year low of $28.69 and a 1-year high of $37.57. The business has a fifty day moving average price of $31.71 and a 200 day moving average price of $31.80. 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 capitalization of $3.85 billion, a PE ratio of 38.69, a PEG ratio of 2.19 and a beta of 1.23.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating 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 business earned $0.53 earnings per share. The firm's revenue was up 9.2% compared to the same quarter last year. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. On average, equities research analysts forecast that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, July 31st. Tanger's dividend payout ratio is currently 132.95%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SKT shares. LADENBURG THALM/SH SH started coverage on shares of Tanger in a research report on Friday, July 18th. They issued a "buy" rating and a $35.00 target price for the company. Barclays lifted their price target on shares of Tanger from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Wednesday. Evercore ISI raised shares of Tanger to a "hold" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of Tanger from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Tanger presently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

Tanger Company Profile

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.