Sei Investments Co. Cuts Stock Position in Tanger Inc. $SKT

Key Points

• Sei Investments reduced its Tanger stake by 34.3% in the first quarter, selling 27,717 shares and retaining 53,134 shares valued at approximately $1.8 million. Institutional investors collectively own 85.23% of Tanger’s stock.
• Analysts maintain a consensus “Hold” rating on Tanger, with an average price target of $39.70; recent targets range from $38 to $41.
• Tanger exceeded quarterly earnings and revenue expectations, reporting $0.29 EPS and $156.39 million in revenue. The company declared a quarterly dividend of $0.3125, equivalent to a 3.2% annualized yield.

Sei Investments Co. lessened its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 34.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,134 shares of the real estate investment trust's stock after selling 27,717 shares during the quarter. Sei Investments Co.'s holdings in Tanger were worth $1,805,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SKT. Hsbc Holdings PLC boosted its position in Tanger by 28.8% in the 4th quarter. Hsbc Holdings PLC now owns 268,603 shares of the real estate investment trust's stock valued at $8,987,000 after buying an additional 60,035 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Tanger by 25.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 783,777 shares of the real estate investment trust's stock worth $26,155,000 after acquiring an additional 158,376 shares in the last quarter. First Trust Advisors LP increased its position in shares of Tanger by 69.0% during the first quarter. First Trust Advisors LP now owns 112,685 shares of the real estate investment trust's stock worth $3,829,000 after acquiring an additional 45,997 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in shares of Tanger during the fourth quarter worth $834,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Tanger by 51.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,620 shares of the real estate investment trust's stock valued at $8,012,000 after acquiring an additional 79,861 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank lifted their target price on Tanger from $37.00 to $41.00 and gave the company a "sector perform" rating in a report on Thursday, June 18th. UBS Group set a $41.00 price target on Tanger in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft increased their price target on Tanger from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Wednesday, June 17th. Barclays lifted their price objective on Tanger from $38.00 to $41.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 12th. Finally, Bank of America reissued an "underperform" rating and set a $38.00 price objective on shares of Tanger in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tanger has a consensus rating of "Hold" and a consensus target price of $39.70.

Tanger Trading Down 0.0%

NYSE:SKT opened at $39.31 on Monday. The stock has a 50-day simple moving average of $39.81 and a 200-day simple moving average of $36.83. The stock has a market cap of $4.52 billion, a P/E ratio of 35.74, a P/E/G ratio of 2.01 and a beta of 1.10. Tanger Inc. has a 1 year low of $31.13 and a 1 year high of $42.53. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12.

Tanger (NYSE:SKT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $156.39 million for the quarter, compared to analyst estimates of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The business's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, July 31st. Tanger's dividend payout ratio is currently 113.64%.

About Tanger

Tanger Factory Outlet Centers, Inc NYSE: SKT is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company's portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger's centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.

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