Quantbot Technologies LP Buys 45,767 Shares of Tanger Inc. $SKT

Key Points

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Quantbot Technologies LP increased its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 46.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,857 shares of the real estate investment trust's stock after acquiring an additional 45,767 shares during the quarter. Quantbot Technologies LP owned approximately 0.13% of Tanger worth $4,861,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SKT. NBC Securities Inc. purchased a new position in shares of Tanger in the 1st quarter valued at $30,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Tanger by 3,451.2% in the 1st 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 during the period. GF Fund Management CO. LTD. acquired a new position in Tanger during the 4th quarter valued at about $68,000. Coppell Advisory Solutions LLC boosted its stake in Tanger by 144.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 1,399 shares during the period. Finally, Contravisory Investment Management Inc. raised 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 buying an additional 5,129 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Tanger Trading Up 2.4%

Shares of NYSE:SKT traded up $0.7840 during mid-day trading on Friday, reaching $33.4940. The stock had a trading volume of 755,317 shares, compared to its average volume of 920,626. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. The firm has a market cap of $3.79 billion, a PE ratio of 38.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.23. The firm has a 50 day simple moving average of $31.41 and a two-hundred day simple moving average of $31.77. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate 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 net margin of 18.22% and a return on equity of 15.45%. The business's quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. On average, research analysts predict that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Announces Dividend

The firm also recently disclosed 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 was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.5%. Tanger's dividend payout ratio (DPR) is 132.95%.

Analyst Upgrades and Downgrades

SKT has been the topic of a number of research reports. Wall Street Zen upgraded shares of Tanger from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays assumed coverage on shares of Tanger in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $33.00 target price for the company. Evercore ISI upgraded shares of Tanger to a "hold" rating in a research note on Friday, May 2nd. Finally, LADENBURG THALM/SH SH began coverage on shares of Tanger in a research note on Friday, July 18th. They set a "buy" rating and a $35.00 target price for the company. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Tanger presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.

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.