First Trust Advisors LP Increases Position in Tanger Inc. $SKT

Key Points

• First Trust Advisors increased its Tanger position by 69% in the first quarter, purchasing 45,997 additional shares to own 112,685 shares valued at approximately $3.83 million. Institutional investors collectively own 85.23% of SKT.
• Tanger exceeded second-quarter expectations, reporting $0.29 EPS and $148.27 million in revenue, up 11.2% year over year. Management forecast 2026 core FFO of $2.45–$2.52 per share and raised the quarterly dividend to $0.3125.
• Analysts remain cautious despite the strong results: Tanger has a consensus “Hold” rating and a $39.70 price target, below its $40.54 share price. Moderating occupancy and the stock’s elevated valuation could limit upside.

First Trust Advisors LP grew its position in Tanger Inc. (NYSE:SKT - Free Report) by 69.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,685 shares of the real estate investment trust's stock after purchasing an additional 45,997 shares during the quarter. First Trust Advisors LP owned approximately 0.10% of Tanger worth $3,829,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SKT. Fifth Third Bancorp increased its holdings in Tanger by 43.2% in the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 293 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Tanger by 5.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust's stock valued at $199,000 after buying an additional 306 shares in the last quarter. M&T Bank Corp raised its stake in Tanger by 3.3% in the second quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust's stock valued at $314,000 after buying an additional 326 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Tanger by 2.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 17,496 shares of the real estate investment trust's stock worth $592,000 after buying an additional 346 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in shares of Tanger by 3.0% during the 4th quarter. Lido Advisors LLC now owns 12,440 shares of the real estate investment trust's stock worth $420,000 after acquiring an additional 365 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger News Roundup

Here are the key news stories impacting Tanger this week:

• Positive Sentiment: Quarterly results exceeded expectations: Tanger reported second-quarter EPS of $0.29 versus the $0.25 consensus estimate, while revenue increased 11.2% year over year to $148.27 million, beating expectations of $142.58 million. Funds from operations (FFO) reached $0.64 per share, above the $0.62 estimate and up from $0.58 a year earlier. Tanger Q2 FFO and Revenues Surpass Estimates
• Positive Sentiment: 2026 outlook remains favorable: Tanger forecast core FFO of $2.45 to $2.52 per share for 2026, broadly in line with the $2.48 analyst consensus, and raised its dividend. Management cited disciplined execution, continued tenant demand and additional growth from the Levis Commons property. Tanger Forecasts 2026 Core FFO
• Positive Sentiment: Traffic and leasing trends support growth: Chief Executive Stephen Yalof said World Cup tourism increased traffic and sales at Tanger centers, with properties in eight of the tournament’s 11 host cities. The company is also re-tenanting former Saks spaces, which could improve future occupancy and property productivity. Tanger CEO Says World Cup Drove Traffic and Sales
• Neutral Sentiment: Occupancy moderated: Although earnings and guidance improved, occupancy was softer, creating some concern about near-term leasing momentum. Management’s re-tenanting efforts will be important to offset that pressure. Tanger Q2 Earnings Beat Estimates
• Negative Sentiment: Limited upside in guidance: The 2026 FFO outlook is essentially in line with analyst expectations, while SKT’s elevated valuation may make investors less tolerant of any weakening in occupancy or consumer spending.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SKT shares. BMO Capital Markets increased their price objective on Tanger from $40.00 to $42.00 and gave the company a "market perform" rating in a report on Monday, June 15th. LADENBURG THALM/SH SH boosted their target price on Tanger from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Barclays upped their price target on Tanger from $38.00 to $41.00 and gave the company an "equal weight" rating in a report on Tuesday, May 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Tanger in a report on Friday, July 17th. Finally, UBS Group set a $41.00 price objective on shares of Tanger in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $39.70.

Tanger Stock Down 0.4%

SKT opened at $40.54 on Thursday. The business's 50-day simple moving average is $39.69 and its 200-day simple moving average is $36.75. The company has a debt-to-equity ratio of 2.67, a quick ratio of 3.36 and a current ratio of 3.36. Tanger Inc. has a one year low of $31.13 and a one year high of $42.53. The stock has a market capitalization of $4.66 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10.

Tanger (NYSE:SKT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $148.27 million during the quarter, compared to the consensus estimate of $142.58 million. Tanger had a return on equity of 17.60% and a net margin of 20.74%.The business's quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Analysts anticipate that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.3125 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a yield of 3.1%. Tanger's payout ratio is currently 116.82%.

Tanger Company Profile

Tanger Factory Outlet Centers, Inc NYSE: SKT is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company's portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger's centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.

Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Inc. (NYSE:SKT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source