Tanger Inc. $SKT Stock Holdings Reduced by State of Wyoming

Key Points

• The State of Wyoming sold **10,188 shares** of Tanger Inc., reducing its stake by **40.1%**, leaving it with **15,233 shares** valued at **$515,000**.
• Several institutional investors have shown increased interest in Tanger, with **85.23%** of the stock currently owned by institutional shareholders, suggesting a trend of growing confidence in the company.
• Analysts have a **consensus rating** of **"Moderate Buy"** for Tanger Inc., with a **target price of $36.50**, supported by recent upgrades and a strong earnings report.

State of Wyoming reduced its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 40.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,233 shares of the real estate investment trust's stock after selling 10,188 shares during the quarter. State of Wyoming's holdings in Tanger were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SKT. Vanguard Group Inc. lifted its position in shares of Tanger by 1.1% during the first quarter. Vanguard Group Inc. now owns 17,511,443 shares of the real estate investment trust's stock worth $591,712,000 after purchasing an additional 193,141 shares during the last quarter. Northern Trust Corp increased its holdings in Tanger by 1.2% in the 1st quarter. Northern Trust Corp now owns 1,839,022 shares of the real estate investment trust's stock worth $62,141,000 after buying an additional 21,970 shares during the period. Millennium Management LLC increased its holdings in Tanger by 0.5% in the 4th quarter. Millennium Management LLC now owns 1,748,635 shares of the real estate investment trust's stock worth $59,681,000 after buying an additional 8,590 shares during the period. Nuveen Asset Management LLC boosted its position in Tanger by 78.6% in the 4th quarter. Nuveen Asset Management LLC now owns 1,714,769 shares of the real estate investment trust's stock worth $58,525,000 after purchasing an additional 754,429 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Tanger in the 1st quarter worth approximately $57,926,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Tanger Stock Up 0.8%

SKT stock traded up $0.27 during midday trading on Thursday, hitting $34.24. 300,742 shares of the company's stock were exchanged, compared to its average volume of 935,504. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. Tanger Inc. has a 12-month low of $28.69 and a 12-month high of $37.57. The firm has a 50 day moving average price of $32.00 and a 200-day moving average price of $31.80. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 2.20 and a beta of 1.34.

Tanger (NYSE:SKT - Get Free Report) last released 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 business had revenue of $133.44 million during the quarter, compared to analyst estimates of $132.02 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. On average, analysts anticipate that Tanger Inc. will post 2.24 EPS for the current 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 $0.2925 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.17 annualized dividend and a dividend yield of 3.4%. Tanger's dividend payout ratio is 132.95%.

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.