PharVision Advisers LLC Makes New Investment 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 acquired a new stake in shares of Tanger Inc. (NYSE:SKT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,238 shares of the real estate investment trust's stock, valued at approximately $312,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in shares of Tanger in the first quarter worth about $30,000. Caitong International Asset Management Co. Ltd increased its position in shares of Tanger by 3,451.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,415 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Tanger in the fourth quarter valued at approximately $68,000. Quarry LP increased its position in shares of Tanger by 2,296.1% during the first 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 in the last quarter. Finally, Contravisory Investment Management Inc. increased its position in shares of Tanger by 1,027.9% during the first 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 in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Stock Performance

NYSE:SKT traded down $0.37 during mid-day trading on Wednesday, reaching $34.13. 790,212 shares of the stock were exchanged, compared to its average volume of 935,221. The company has a 50 day simple moving average of $32.31 and a 200-day simple moving average of $31.77. The stock has a market capitalization of $3.86 billion, a P/E ratio of 38.79, a P/E/G ratio of 2.24 and a beta of 1.34. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.31. Tanger Inc. has a 1 year low of $28.69 and a 1 year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. The firm had revenue of $133.44 million for the quarter, compared to the consensus estimate of $132.02 million. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

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

Insider Activity

In other news, EVP Gallardo Leslie Swanson sold 17,500 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 92,665 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

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

About Tanger

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.