Janney Montgomery Scott LLC reduced its stake in Tanger Inc. (NYSE:SKT - Free Report) by 94.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,912 shares of the real estate investment trust's stock after selling 310,970 shares during the quarter. Janney Montgomery Scott LLC's holdings in Tanger were worth $668,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of SKT. Hsbc Holdings PLC grew its holdings in Tanger by 28.8% in the 4th quarter. Hsbc Holdings PLC now owns 268,603 shares of the real estate investment trust's stock valued at $8,987,000 after buying an additional 60,035 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Tanger by 25.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 783,777 shares of the real estate investment trust's stock worth $26,155,000 after buying an additional 158,376 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Tanger in the first quarter valued at about $1,459,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Tanger in the fourth quarter valued at about $834,000. Finally, First Trust Advisors LP grew its stake in shares of Tanger by 69.0% in the first quarter. First Trust Advisors LP now owns 112,685 shares of the real estate investment trust's stock valued at $3,829,000 after acquiring an additional 45,997 shares in the last quarter. 85.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on SKT. Barclays raised their price target on shares of Tanger from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 12th. Evercore set a $39.00 target price on shares of Tanger in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tanger from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Wednesday, June 17th. Bank of America reissued an "underperform" rating and set a $38.00 price target on shares of Tanger in a research report on Tuesday, June 16th. Finally, Citigroup lifted their price objective on Tanger from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $40.30.
Get Our Latest Stock Report on Tanger
Tanger Stock Down 0.1%
Shares of SKT opened at $38.45 on Friday. Tanger Inc. has a one year low of $31.13 and a one year high of $42.53. The company has a market cap of $4.42 billion, a P/E ratio of 34.96, a P/E/G ratio of 1.88 and a beta of 1.10. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a 50 day simple moving average of $40.05 and a two-hundred day simple moving average of $37.00.
Tanger (NYSE:SKT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The firm had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. During the same quarter last year, the business posted $0.58 EPS. The company's revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Research analysts forecast that Tanger Inc. will post 2.48 EPS for the current fiscal year.
Tanger Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, July 31st. Tanger's payout ratio is currently 113.64%.
Tanger Company Profile
(
Free Report)
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.
Recommended Stories
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.
Before you consider Tanger, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tanger wasn't on the list.
While Tanger currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link to see MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
