Tanger Inc. $SKT Shares Bought by Quantbot Technologies LP

Key Points

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Quantbot Technologies LP raised its position in Tanger Inc. (NYSE:SKT - Free Report) by 46.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,857 shares of the real estate investment trust's stock after purchasing an additional 45,767 shares during the quarter. Quantbot Technologies LP owned 0.13% of Tanger worth $4,861,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SKT. NBC Securities Inc. purchased a new stake in shares of Tanger in the first quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd grew its position in 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 acquiring an additional 1,415 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Tanger in the fourth quarter worth $68,000. Coppell Advisory Solutions LLC increased its stake in Tanger by 144.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 1,399 shares during the period. Finally, Contravisory Investment Management Inc. increased its stake in Tanger by 1,027.9% in 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 during the period. Hedge funds and other institutional investors own 85.23% of the company's stock.

Tanger Stock Performance

Tanger stock traded up $0.7840 during midday trading on Friday, hitting $33.4940. 755,317 shares of the company were exchanged, compared to its average volume of 944,182. Tanger Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $37.57. The firm has a market capitalization of $3.79 billion, a PE ratio of 38.06, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23. The business has a fifty day simple moving average of $31.41 and a two-hundred day simple moving average of $31.80. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.11 and a current ratio of 0.11.

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

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 yield of 3.5%. Tanger's payout ratio is presently 132.95%.

Analysts Set New Price Targets

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