Pensionfund DSM Netherlands Has $372,000 Stock Holdings in 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 cut its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 57.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,000 shares of the real estate investment trust's stock after selling 15,000 shares during the period. Pensionfund DSM Netherlands' holdings in Tanger were worth $372,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in Tanger during the first quarter valued at $30,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Tanger by 3,451.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 1,415 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Tanger during the 4th quarter worth about $68,000. Quarry LP lifted its position in shares of Tanger by 2,296.1% during the 1st quarter. Quarry LP now owns 3,043 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 2,916 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in shares of Tanger by 1,027.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 5,628 shares of the real estate investment trust's stock worth $190,000 after purchasing an additional 5,129 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tanger news, EVP Gallardo Leslie Swanson sold 17,500 shares of Tanger stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $34.74, for a total transaction of $607,950.00. Following the transaction, the executive vice president directly owned 92,665 shares in the company, valued at approximately $3,219,182.10. The trade was a 15.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.70% of the company's stock.

Analyst Ratings Changes

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

Tanger Stock Down 1.1%

NYSE:SKT opened at $34.16 on Friday. Tanger Inc. has a 12-month low of $28.69 and a 12-month high of $37.57. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $3.87 billion, a P/E ratio of 38.82, a P/E/G ratio of 2.23 and a beta of 1.34. The stock's fifty day simple moving average is $32.48 and its 200-day simple moving average is $31.76.

Tanger (NYSE:SKT - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $133.44 million for the quarter, compared to analyst estimates of $132.02 million. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The firm's revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Equities research analysts expect 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. Shareholders of record on Thursday, July 31st were issued a dividend of $0.2925 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 3.4%. Tanger's payout ratio is currently 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.

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