PharVision Advisers LLC Takes $312,000 Position in Tanger Inc. $SKT

Key Points

• PharVision Advisers LLC has invested approximately $312,000 in Tanger Inc. ($SKT) by purchasing 9,238 shares in the first quarter.
• Tanger Inc. recently reported quarterly earnings of $0.58 per share, exceeding analysts' expectations, and set its FY 2025 guidance between $2.240 and $2.310 EPS.
• The company declared a quarterly dividend of $0.2925 per share, representing an annualized yield of 3.4% despite a payout ratio of 132.95%.

PharVision Advisers LLC bought a new position in shares of Tanger Inc. (NYSE:SKT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,238 shares of the real estate investment trust's stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV increased its position in 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 worth $563,000 after purchasing an additional 385 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Tanger by 17.0% in the 1st quarter. NewEdge Advisors LLC now owns 104,358 shares of the real estate investment trust's stock worth $3,526,000 after acquiring an additional 15,127 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tanger by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust's stock worth $2,171,000 after acquiring an additional 3,631 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Tanger in the 1st quarter worth approximately $4,195,000. Finally, Hancock Whitney Corp boosted its holdings in Tanger by 1.5% in the 1st quarter. Hancock Whitney Corp now owns 82,438 shares of the real estate investment trust's stock worth $2,786,000 after acquiring an additional 1,215 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Insiders Place Their Bets

In other Tanger news, EVP Gallardo Leslie Swanson sold 17,500 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $34.74, for a total value of $607,950.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is owned by corporate insiders.

Tanger Stock Performance

NYSE SKT traded up $0.43 during trading hours on Thursday, hitting $34.56. The company had a trading volume of 139,730 shares, compared to its average volume of 930,555. Tanger Inc. has a fifty-two week low of $28.69 and a fifty-two week 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 business has a fifty day simple moving average of $32.37 and a 200-day simple moving average of $31.78. The firm has a market cap of $3.91 billion, a P/E ratio of 39.28, a price-to-earnings-growth ratio of 2.23 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, topping the consensus estimate of $0.56 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The firm had revenue of $133.44 million for the quarter, compared to analyst estimates of $132.02 million. During the same period last year, the company earned $0.53 earnings per share. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Equities analysts predict that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Dividend Announcement

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

Analysts Set New Price Targets

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

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.