Jupiter Topco LLC Invests $33.96 Million in Tanger Inc. $SKT

Key Points

• Jupiter Topco LLC acquired 859,700 shares of Tanger Inc., worth approximately $33.96 million, giving it a 0.75% stake. Institutional investors collectively own 85.23% of the REIT.
• Tanger exceeded quarterly expectations, reporting $0.29 EPS versus the $0.25 consensus and $156.39 million in revenue, up 11.2% year over year. The company reaffirmed fiscal 2026 EPS guidance of $2.45–$2.52.
• Tanger paid a quarterly dividend of $0.3125 per share, equivalent to a 3.3% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $40.40, compared with a recent share price of $37.73.

Jupiter Topco LLC bought a new position in Tanger Inc. (NYSE:SKT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 859,700 shares of the real estate investment trust's stock, valued at approximately $33,960,000. Jupiter Topco LLC owned about 0.75% of Tanger at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Tanger by 2.8% in the 1st quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust's stock worth $4,905,000 after acquiring an additional 3,995 shares in the last quarter. AQR Capital Management LLC grew its position in Tanger by 17.8% during the first quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust's stock valued at $1,291,000 after buying an additional 5,765 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tanger by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust's stock valued at $2,171,000 after buying an additional 3,631 shares during the period. United Services Automobile Association purchased a new stake in Tanger during the first quarter worth about $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Tanger by 436.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust's stock worth $27,073,000 after buying an additional 651,961 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Tanger Price Performance

Shares of NYSE SKT opened at $37.73 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12. Tanger Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $42.53. The stock has a market cap of $4.33 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. The stock has a fifty day moving average of $39.82 and a 200-day moving average of $37.39.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping 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 business had revenue of $156.39 million for the quarter, compared to analysts' expectations of $142.58 million. During the same quarter in the prior year, the firm posted $0.58 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Equities research analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.3125 per share. The ex-dividend date was Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.3%. Tanger's dividend payout ratio is currently 113.64%.

Wall Street Analysts Forecast Growth

SKT has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Tanger in a research note on Friday, July 17th. UBS Group set a $41.00 price target on shares of Tanger in a research note on Thursday, June 18th. BMO Capital Markets lifted their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on Tanger from $35.00 to $40.00 and gave the company a "hold" rating in a research note on Wednesday, June 17th. Finally, Citigroup increased their price objective on Tanger from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $40.40.

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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