Seven Post Investment Office LP Buys Shares of 8,000 Tanger Inc. $SKT

Key Points

• Seven Post Investment Office LP purchased 8,000 shares of Tanger Inc. for approximately $245,000, indicating growing interest from institutional investors as they own 85.23% of the company.
• Tanger Inc. reported $0.58 earnings per share (EPS) for the last quarter, beating estimates, with revenue up 9.2% year-over-year.
• The company announced a quarterly dividend of $0.2925 per share, translating to a 3.5% dividend yield, while its dividend payout ratio currently stands at 132.95%.

Seven Post Investment Office LP purchased a new position in shares of Tanger Inc. (NYSE:SKT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 8,000 shares of the real estate investment trust's stock, valued at approximately $245,000.

Several other large investors have also made changes to their positions in the company. NBC Securities Inc. bought a new position in Tanger during the first quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Tanger by 3,451.2% during 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 purchasing an additional 1,415 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Tanger in the 4th quarter valued at $68,000. Quarry LP lifted its stake in shares of Tanger by 2,296.1% in the 1st quarter. Quarry LP now owns 3,043 shares of the real estate investment trust's stock valued at $103,000 after purchasing an additional 2,916 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Tanger by 8,500.0% in the second quarter. Farther Finance Advisors LLC now owns 4,300 shares of the real estate investment trust's stock worth $131,000 after purchasing an additional 4,250 shares in the last quarter. Institutional investors own 85.23% of the company's stock.

Tanger Price Performance

Tanger stock opened at $33.46 on Wednesday. The business has a 50 day simple moving average of $32.74 and a 200 day simple moving average of $31.68. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $3.79 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.15 and a beta of 1.34. Tanger Inc. has a one year low of $28.69 and a one year high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The company had revenue of $133.44 million during the quarter, compared to analysts' expectations of $132.02 million. During the same period last year, the business earned $0.53 earnings per share. The business's revenue was up 9.2% on a year-over-year basis. 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 EPS for the current fiscal year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.2925 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 annualized dividend and a dividend yield of 3.5%. Tanger's dividend payout ratio (DPR) is presently 132.95%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen raised Tanger from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Evercore ISI increased their price target on Tanger from $33.00 to $35.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Barclays boosted their price objective on shares of Tanger from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Tanger in a research note on Friday, July 18th. They issued a "buy" rating and a $35.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Tanger currently has a consensus rating of "Moderate Buy" and an average price target of $36.70.

Insider Activity

In other news, EVP Gallardo Leslie Swanson sold 17,500 shares of Tanger stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the completion of the transaction, the executive vice president owned 92,665 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 5.70% of the company's stock.

Tanger Company 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.

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