Eisler Capital Management Ltd. Buys Shares of 170,440 Tanger Inc. $SKT

Key Points

• Eisler Capital Management Ltd. acquired a new stake in Tanger Inc. (NYSE:SKT) by purchasing 170,440 shares valued at approximately $5.76 million, representing 0.15% of the company.
• Tanger reported earnings of $0.58 EPS for the last quarter, surpassing analyst estimates, with revenue of $133.44 million, and guidance for FY 2025 EPS set between 2.240-2.310.
• The company also declared a quarterly dividend of $0.2925, translating to an annual yield of 3.5%, despite a high dividend payout ratio of 132.95%.

Eisler Capital Management Ltd. acquired a new stake in shares of Tanger Inc. (NYSE:SKT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 170,440 shares of the real estate investment trust's stock, valued at approximately $5,761,000. Eisler Capital Management Ltd. owned 0.15% of Tanger as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Tanger by 1.1% during the first quarter. Vanguard Group Inc. now owns 17,511,443 shares of the real estate investment trust's stock valued at $591,712,000 after purchasing an additional 193,141 shares during the period. Northern Trust Corp raised its stake in shares of Tanger by 1.2% during the first quarter. Northern Trust Corp now owns 1,839,022 shares of the real estate investment trust's stock valued at $62,141,000 after purchasing an additional 21,970 shares during the period. Millennium Management LLC raised its stake in shares of Tanger by 0.5% during the fourth quarter. Millennium Management LLC now owns 1,748,635 shares of the real estate investment trust's stock valued at $59,681,000 after purchasing an additional 8,590 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Tanger by 78.6% during the fourth 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 purchasing an additional 754,429 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Tanger during the first quarter valued at approximately $57,926,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Tanger from $33.00 to $34.00 and gave the company an "equal weight" rating in a research note on Wednesday. LADENBURG THALM/SH SH assumed coverage on shares of Tanger in a research report on Friday, July 18th. They set a "buy" rating and a $35.00 price target for the company. 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 investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.50.

Tanger Stock Performance

Tanger stock traded up $0.20 during mid-day trading on Friday, reaching $34.20. The company's stock had a trading volume of 811,919 shares, compared to its average volume of 864,957. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 2.20 and a beta of 1.23. The business has a 50 day moving average price of $31.79 and a 200-day moving average price 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 twelve month low of $28.69 and a twelve month high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last released 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. The firm 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 firm's revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Sell-side analysts predict that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Announces Dividend

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

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.