Bank of America Corp DE Purchases 375,608 Shares of Tanger Inc. $SKT

Key Points

• Bank of America acquired 375,608 Tanger shares valued at approximately $14.8 million, while other institutional investors also initiated sizable positions. Institutional investors and hedge funds now own 85.23% of the REIT.
• Tanger exceeded quarterly expectations, reporting EPS of $0.29 versus the $0.25 consensus and revenue of $156.39 million, up 11.2% year over year. The company issued fiscal 2026 EPS guidance of $2.45–$2.52.
• Tanger paid a quarterly dividend of $0.3125, equivalent to an annualized $1.25 payout and a 3.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $40.27.

Bank of America Corp DE purchased a new position in shares of Tanger Inc. (NYSE:SKT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 375,608 shares of the real estate investment trust's stock, valued at approximately $14,825,000. Bank of America Corp DE owned approximately 0.33% of Tanger at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Man Group plc acquired a new position in Tanger during the second quarter worth $769,000. Jupiter Topco LLC bought a new position in shares of Tanger in the 2nd quarter valued at about $33,960,000. Hsbc Holdings PLC acquired a new position in shares of Tanger during the 2nd quarter worth about $9,321,000. Canada Pension Plan Investment Board acquired a new position in shares of Tanger during the 2nd quarter worth about $746,000. Finally, Nicholas Investment Partners LP bought a new stake in shares of Tanger in the 2nd quarter valued at about $16,977,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Price Performance

Shares of NYSE:SKT opened at $34.79 on Friday. Tanger Inc. has a one year low of $31.13 and a one year high of $42.53. 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 company has a market cap of $4.00 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 1.71 and a beta of 1.10. The firm has a 50 day simple moving average of $38.39 and a 200 day simple moving average of $37.51.

Tanger (NYSE:SKT - Get Free Report) last announced its quarterly 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. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The company had revenue of $156.39 million during the quarter, compared to the consensus estimate of $142.58 million. During the same period in the prior year, the business earned $0.58 earnings per share. The company'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. Research analysts predict that Tanger Inc. will post 2.49 earnings per share for the current fiscal year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.3125 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.25 annualized dividend and a yield of 3.6%. Tanger's dividend payout ratio (DPR) is currently 113.64%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SKT shares. Evercore set a $39.00 price objective on Tanger in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lowered Tanger from an "overweight" rating to a "neutral" rating and set a $39.00 target price on the stock. in a report on Thursday. Weiss Ratings restated a "buy (b)" rating on shares of Tanger in a research note on Friday, July 17th. UBS Group set a $41.00 price target on Tanger in a report on Thursday, June 18th. Finally, LADENBURG THALM/SH SH lifted their price objective on shares of Tanger from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $40.27.

About Tanger

Tanger Inc NYSE: SKT is a real estate investment trust that owns, operates and develops open-air outlet and shopping centers. Its properties are designed to serve value-conscious consumers and include a mix of national and regional retailers across apparel, footwear, home goods, dining and other consumer categories.

The company's primary business activities include leasing retail space, managing shopping-center operations and maintaining tenant relationships. Tanger's portfolio serves shoppers in the United States and Canada, with properties generally located near major metropolitan areas, tourist destinations and high-traffic travel corridors.

Founded in 1981 by Stanley K.

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