Hsbc Holdings PLC Acquires 60,035 Shares of Tanger Inc. $SKT

Key Points

• HSBC Holdings PLC boosted its Tanger Inc. stake by 28.8% in the fourth quarter, buying 60,035 more shares and ending with 268,603 shares worth about $8.99 million.
• Tanger reported mixed quarterly results, with EPS of $0.24 missing estimates but revenue of $150.42 million topping expectations and rising 11.1% year over year.
• The company also raised its quarterly dividend to $0.3125 per share, equal to an annualized yield of about 3.2%, while analysts currently view the stock as a Hold with a consensus price target of $39.70.

Hsbc Holdings PLC raised its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 268,603 shares of the real estate investment trust's stock after buying an additional 60,035 shares during the period. Hsbc Holdings PLC owned about 0.23% of Tanger worth $8,987,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SKT. Northwestern Mutual Wealth Management Co. grew its position in shares of Tanger by 5.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust's stock valued at $199,000 after acquiring an additional 306 shares during the period. M&T Bank Corp increased its stake in shares of Tanger by 3.3% in the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust's stock worth $314,000 after purchasing an additional 326 shares in the last quarter. GAMMA Investing LLC raised its holdings in Tanger by 13.2% in the 4th quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust's stock worth $95,000 after purchasing an additional 332 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Tanger by 2.0% in 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 purchasing an additional 346 shares during the period. Finally, Lido Advisors LLC lifted its position in Tanger by 3.0% during the fourth quarter. Lido Advisors LLC now owns 12,440 shares of the real estate investment trust's stock valued at $420,000 after purchasing an additional 365 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Trading Down 1.7%

Shares of Tanger stock opened at $39.22 on Thursday. The company has a market capitalization of $4.51 billion, a P/E ratio of 36.65, a P/E/G ratio of 2.04 and a beta of 1.09. The company has a debt-to-equity ratio of 2.67, a quick ratio of 3.36 and a current ratio of 3.36. The company has a fifty day moving average of $37.70 and a 200 day moving average of $35.75. Tanger Inc. has a fifty-two week low of $29.24 and a fifty-two week high of $41.50.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). Tanger had a return on equity of 17.53% and a net margin of 20.76%.The business had revenue of $150.42 million during the quarter, compared to analysts' expectations of $142.94 million. During the same quarter in the previous year, the company posted $0.53 EPS. The company's quarterly revenue was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, sell-side analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a dividend of $0.3125 per share. This is a boost from Tanger's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.25 annualized dividend and a yield of 3.2%. Tanger's dividend payout ratio is 116.82%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SKT. Evercore set a $39.00 price target on Tanger in a report on Tuesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Tanger in a research note on Monday, April 20th. Barclays lifted their price objective on Tanger from $38.00 to $41.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 12th. Bank of America reiterated an "underperform" rating and set a $38.00 price objective on shares of Tanger in a research note on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Tanger from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $39.70.

About Tanger

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.

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