Deutsche Bank AG Has $4.49 Million Stake in Tanger Inc. $SKT

Deutsche Bank AG decreased its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 25.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,818 shares of the real estate investment trust's stock after selling 45,476 shares during the quarter. Deutsche Bank AG owned 0.12% of Tanger worth $4,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SKT. Bank of Montreal Can lifted its position in Tanger by 12.1% during the fourth quarter. Bank of Montreal Can now owns 16,351 shares of the real estate investment trust's stock worth $558,000 after purchasing an additional 1,764 shares during the period. Raymond James Financial Inc. bought a new position in shares of Tanger in the fourth quarter worth about $4,972,000. Summit Investment Advisors Inc. lifted its holdings in shares of Tanger by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,139 shares of the real estate investment trust's stock worth $380,000 after acquiring an additional 553 shares during the last quarter. Barclays PLC lifted its holdings in shares of Tanger by 36.5% in the fourth quarter. Barclays PLC now owns 328,099 shares of the real estate investment trust's stock worth $11,198,000 after acquiring an additional 87,818 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Tanger by 7.2% in the fourth quarter. NewEdge Advisors LLC now owns 89,231 shares of the real estate investment trust's stock worth $3,045,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SKT. LADENBURG THALM/SH SH began coverage on Tanger in a research note on Friday, July 18th. They issued a "buy" rating and a $35.00 price objective for the company. Evercore ISI raised Tanger to a "hold" rating in a research note on Friday, May 2nd. Barclays began coverage on Tanger in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $33.00 price objective for the company. Finally, Wall Street Zen raised 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.40.

Tanger Trading Up 2.6%

NYSE:SKT traded up $0.8470 on Friday, reaching $33.5570. 74,375 shares of the stock traded hands, compared to its average volume of 947,095. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 38.17, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23. The company's 50 day moving average is $31.33 and its 200-day moving average is $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 1-year low of $28.69 and a 1-year high of $37.57.

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, beating analysts' consensus estimates of $0.56 by $0.02. The business had revenue of $133.44 million during the quarter, compared to the consensus estimate of $132.02 million. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Equities research analysts anticipate that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

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

Tanger 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.