Pensionfund DSM Netherlands Sells 15,000 Shares of Tanger Inc. $SKT

Key Points

• Pensionfund DSM Netherlands reduced its stake in Tanger Inc. by 57.7%, holding 11,000 shares valued at $372,000 after selling 15,000 shares in the first quarter.
• Several institutional investors significantly increased their stakes in Tanger, with Caitong International Asset Management boosting theirs by 3,451.2% during the same period.
• Tanger reported earnings of $0.58 per share for the last quarter, exceeding estimates while announcing quarterly dividends yielding 3.4% annually.

Pensionfund DSM Netherlands lessened its position in Tanger Inc. (NYSE:SKT - Free Report) by 57.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,000 shares of the real estate investment trust's stock after selling 15,000 shares during the quarter. Pensionfund DSM Netherlands' holdings in Tanger were worth $372,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SKT. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Tanger by 2.4% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 16,664 shares of the real estate investment trust's stock valued at $563,000 after purchasing an additional 385 shares in the last quarter. Xponance Inc. grew its stake in Tanger by 6.7% in the 1st quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust's stock valued at $276,000 after buying an additional 514 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Tanger by 0.4% in the 4th 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 buying an additional 554 shares during the last quarter. Albert D Mason Inc. grew its stake in Tanger by 0.9% in the 1st quarter. Albert D Mason Inc. now owns 66,999 shares of the real estate investment trust's stock valued at $2,264,000 after buying an additional 606 shares during the last quarter. Finally, Ibex Wealth Advisors grew its stake in Tanger by 4.0% in the 1st quarter. Ibex Wealth Advisors now owns 22,329 shares of the real estate investment trust's stock valued at $754,000 after buying an additional 862 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Insider Buying and Selling at Tanger

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of Tanger stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $34.74, for a total transaction of $607,950.00. Following the completion of the transaction, the executive vice president directly owned 92,665 shares of the company's stock, valued at $3,219,182.10. This trade represents a 15.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.70% of the company's stock.

Wall Street Analysts Forecast Growth

SKT has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Tanger in a research note on Friday, July 18th. They issued a "buy" rating and a $35.00 target price on the stock. Evercore ISI raised their price target on shares of Tanger from $33.00 to $35.00 and gave the stock an "in-line" rating in a research report on Monday. Wall Street Zen upgraded shares of Tanger from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Barclays raised their price target on shares of Tanger from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.70.

Tanger Price Performance

Shares of Tanger stock traded up $0.14 during trading on Thursday, hitting $34.10. 274,263 shares of the company's stock traded hands, compared to its average volume of 935,642. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11. The firm's fifty day moving average price is $32.62 and its 200 day moving average price is $31.73. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $37.57. The company has a market cap of $3.86 billion, a PE ratio of 38.74, a PEG ratio of 2.17 and a beta of 1.34.

Tanger (NYSE:SKT - Get Free Report) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The business had revenue of $133.44 million for the quarter, compared to analyst estimates of $132.02 million. During the same period in the previous year, the business earned $0.53 EPS. The firm's revenue was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, July 31st. Tanger's payout ratio is 132.95%.

Tanger 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.