Cbre Investment Management Listed Real Assets LLC Has $6.76 Million Holdings in Tanger Inc. $SKT

Key Points

• Cbre Investment Management Listed Real Assets LLC dramatically increased its stake in Tanger Inc. by 2,703.2% during the first quarter, acquiring an additional 193,011 shares. This brings their total holdings to 200,151 shares, valued at approximately $6.77 million.
• Tanger Inc. reported earnings per share of $0.58 for the last quarter, which exceeded analysts' expectations by $0.02, marking a 9.2% increase in revenue compared to the same period last year.
• The company recently declared a quarterly dividend of $0.2925 per share, resulting in an annualized dividend yield of 3.5%, despite a payout ratio currently at 132.95%.

Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 2,703.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,151 shares of the real estate investment trust's stock after buying an additional 193,011 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned approximately 0.18% of Tanger worth $6,763,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SKT. NBC Securities Inc. acquired a new position in shares of Tanger in the first quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd grew its position in shares of Tanger by 3,451.2% in the first 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 last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Tanger in the fourth quarter valued at approximately $68,000. Coppell Advisory Solutions LLC grew its position in shares of Tanger by 144.4% in the fourth 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 last quarter. Finally, Contravisory Investment Management Inc. grew its position in shares of Tanger by 1,027.9% in the first 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 last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Tanger Price Performance

NYSE SKT traded down $0.21 on Thursday, hitting $33.71. 158,405 shares of the company's stock were exchanged, compared to its average volume of 938,792. The stock has a 50-day moving average of $31.63 and a 200-day moving average of $31.80. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. Tanger Inc. has a 52 week low of $28.69 and a 52 week high of $37.57. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 38.30, a P/E/G ratio of 2.15 and a beta of 1.23.

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

Tanger Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SKT. Evercore ISI raised Tanger to a "hold" rating in a research report on Friday, May 2nd. LADENBURG THALM/SH SH began coverage on Tanger in a research report on Friday, July 18th. They issued a "buy" rating and a $35.00 target price on the stock. Wall Street Zen raised Tanger from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Barclays boosted their price target on Tanger from $33.00 to $34.00 and gave the company an "equal weight" rating in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.