Jump Financial LLC Boosts Holdings in Tanger Inc. $SKT

Key Points

• Jump Financial LLC significantly increased its holdings in Tanger Inc. by 488.7% during the first quarter, now owning 51,120 shares valued at approximately $1.73 million.
• Tanger's quarterly revenue rose by 9.2% year-over-year, with earnings per share of $0.58, surpassing analysts' expectations.
• The real estate investment trust recently declared a quarterly dividend of $0.2925 per share, which represents an annual yield of 3.5%.

Jump Financial LLC increased its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 488.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,120 shares of the real estate investment trust's stock after buying an additional 42,436 shares during the period. Jump Financial LLC's holdings in Tanger were worth $1,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SKT. Xponance Inc. boosted its position in Tanger by 6.7% during the 1st quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust's stock worth $276,000 after buying an additional 514 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Tanger by 0.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 157,814 shares of the real estate investment trust's stock valued at $5,386,000 after purchasing an additional 554 shares during the last quarter. Albert D Mason Inc. boosted its position in Tanger by 0.9% in the first quarter. Albert D Mason Inc. now owns 66,999 shares of the real estate investment trust's stock worth $2,264,000 after purchasing an additional 606 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Tanger by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 16,279 shares of the real estate investment trust's stock worth $554,000 after purchasing an additional 624 shares during the last quarter. Finally, Ibex Wealth Advisors lifted its holdings in Tanger by 4.0% during the first quarter. Ibex Wealth Advisors now owns 22,329 shares of the real estate investment trust's stock valued at $754,000 after purchasing an additional 862 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Tanger Price Performance

SKT traded up $0.20 on Monday, reaching $34.20. The company had a trading volume of 811,919 shares, compared to its average volume of 836,239. The business has a 50 day simple moving average of $31.79 and a 200 day simple moving average of $31.78. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 2.20 and a beta of 1.34. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.11 and a current ratio of 0.11. Tanger Inc. has a 52-week low of $28.69 and a 52-week high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings results 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 business had revenue of $133.44 million during the quarter, compared to analysts' expectations of $132.02 million. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The business's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. As a group, sell-side analysts anticipate that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were given a dividend of $0.2925 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 3.4%. Tanger's dividend payout ratio (DPR) is presently 132.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays lifted their price target on Tanger from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Wall Street Zen raised Tanger from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, LADENBURG THALM/SH SH began coverage on shares of Tanger in a report on Friday, July 18th. They issued a "buy" rating and a $35.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Tanger currently has an average rating of "Moderate Buy" and a consensus target price of $36.50.

Tanger Company Profile

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.