Hsbc Holdings PLC Has $8.99 Million Stock Holdings in Tanger Inc. $SKT

Key Points

• HSBC Holdings PLC increased its stake in Tanger Inc. by 28.8% in the fourth quarter, ending with 268,603 shares valued at about $8.99 million.
• Tanger’s latest earnings missed profit expectations but beat on revenue, posting $0.24 EPS versus the expected $0.28 while revenue rose 11.1% year over year to $150.42 million.
• The company raised its quarterly dividend to $0.3125 per share, or $1.25 annually, while Wall Street currently has a consensus Hold rating and $39.50 price target on the stock.

Hsbc Holdings PLC boosted 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 268,603 shares of the real estate investment trust's stock after purchasing an additional 60,035 shares during the period. Hsbc Holdings PLC owned about 0.23% of Tanger worth $8,987,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Tanger by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust's stock worth $598,979,000 after buying an additional 789,935 shares during the period. State Street Corp raised its stake in Tanger by 3.4% during the second quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust's stock worth $202,924,000 after acquiring an additional 215,174 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tanger by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust's stock valued at $96,111,000 after acquiring an additional 27,201 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Tanger by 11.3% during the fourth quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust's stock valued at $81,019,000 after acquiring an additional 245,639 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Tanger by 13.0% in the 3rd quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust's stock worth $77,870,000 after purchasing an additional 264,408 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Stock Performance

Shares of Tanger stock opened at $40.49 on Friday. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. The firm has a 50 day simple moving average of $37.26 and a 200 day simple moving average of $35.39. Tanger Inc. has a fifty-two week low of $29.24 and a fifty-two week high of $41.50. The firm has a market cap of $4.65 billion, a P/E ratio of 37.85, a P/E/G ratio of 2.10 and a beta of 1.11.

Tanger (NYSE:SKT - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The firm had revenue of $150.42 million during the quarter, compared to the consensus estimate of $142.94 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The firm'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. Sell-side analysts predict that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.25 annualized dividend and a yield of 3.1%. This is an increase from Tanger's previous quarterly dividend of $0.29. Tanger's dividend payout ratio (DPR) is presently 116.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SKT shares. Bank of America reissued an "underperform" rating and set a $38.00 price target on shares of Tanger in a report on Tuesday, June 16th. BMO Capital Markets raised their price objective on shares of Tanger from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, June 15th. LADENBURG THALM/SH SH lifted their target price on shares of Tanger from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Tanger from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Wednesday, June 17th. Finally, Scotiabank increased their price target on Tanger from $37.00 to $41.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 18th. Two equities 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. Based on data from MarketBeat, Tanger currently has a consensus rating of "Hold" and a consensus target price of $39.50.

Tanger 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.

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