Sumitomo Mitsui Trust Group Inc. Sells 80,031 Shares of Tanger Inc. $SKT

Key Points

• Sumitomo Mitsui Trust Group cut its Tanger stake by 38.8% in Q1, selling 80,031 shares and ending with 126,059 shares worth about $4.28 million.
• Institutional ownership remains heavy, with 85.23% of Tanger’s stock held by institutions even as several funds made large moves in the name during recent quarters.
• Tanger’s latest results were mixed: Q1 revenue topped estimates at $150.42 million and rose 11.1% year over year, but EPS of $0.24 missed analyst expectations of $0.28.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 38.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,059 shares of the real estate investment trust's stock after selling 80,031 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.11% of Tanger worth $4,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SKT. Freestone Grove Partners LP boosted its stake in Tanger by 6,634.5% during the 4th quarter. Freestone Grove Partners LP now owns 1,184,674 shares of the real estate investment trust's stock worth $39,533,000 after acquiring an additional 1,167,083 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Tanger by 2,190.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust's stock valued at $28,181,000 after purchasing an additional 796,411 shares in the last quarter. Vanguard Group Inc. increased its stake in Tanger by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust's stock valued at $598,979,000 after purchasing an additional 789,935 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Tanger in the fourth quarter worth $25,364,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tanger by 436.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust's stock worth $27,073,000 after purchasing an additional 651,961 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Tanger Stock Performance

SKT opened at $39.90 on Wednesday. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 37.29, a P/E/G ratio of 2.04 and a beta of 1.09. Tanger Inc. has a 1 year low of $29.24 and a 1 year high of $41.50. The business's 50-day moving average price is $37.94 and its two-hundred day moving average price is $35.90.

Tanger (NYSE:SKT - Get Free Report) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). The firm had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Equities analysts expect that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on SKT shares. Bank of America restated an "underperform" rating and issued a $38.00 price objective on shares of Tanger in a research report on Tuesday, June 16th. Evercore set a $39.00 price target on Tanger in a report on Tuesday, July 7th. Barclays raised their price target on Tanger from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a "buy (b)" rating on shares of Tanger in a research report on Monday, April 20th. Finally, BMO Capital Markets increased their target price on Tanger from $40.00 to $42.00 and gave the stock a "market perform" rating in a research note on Monday, June 15th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tanger has an average rating of "Hold" and a consensus price target of $39.70.

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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