Tanger Inc. $SKT Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Tanger stake by 27.8% in the first quarter, adding 97,100 shares to own 446,687 shares valued at approximately $15.2 million. Institutional investors and hedge funds collectively own 85.23% of Tanger.
• Tanger reported quarterly EPS of $0.29, exceeding the $0.25 consensus estimate, while revenue rose 11.2% year over year to $156.39 million. The company issued fiscal 2026 EPS guidance of $2.45 to $2.52.
• Tanger pays a quarterly dividend of $0.3125, equivalent to an annualized $1.25 and a 3.3% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $40.40 versus the reported share price of $38.19.

Bank of America Corp DE increased its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 27.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 446,687 shares of the real estate investment trust's stock after buying an additional 97,100 shares during the quarter. Bank of America Corp DE owned about 0.39% of Tanger worth $15,178,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SHP Wealth Management acquired a new stake in Tanger during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC raised its position in Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 531 shares during the period. Fifth Third Bancorp lifted its stake in shares of Tanger by 43.2% in the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 293 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Tanger in the 3rd quarter valued at $33,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Tanger during the 4th quarter worth $34,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Price Performance

Shares of SKT opened at $38.19 on Friday. The company has a market cap of $4.39 billion, a P/E ratio of 34.72, a PEG ratio of 1.89 and a beta of 1.10. Tanger Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $42.53. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. The firm's 50 day moving average price is $40.00 and its 200 day moving average price is $37.19.

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

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.3125 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a yield of 3.3%. Tanger's dividend payout ratio (DPR) is currently 113.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. UBS Group set a $41.00 target price on shares of Tanger in a research report on Thursday, June 18th. LADENBURG THALM/SH SH lifted their price target on shares of Tanger from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tanger from $35.00 to $40.00 and gave the company a "hold" rating in a research note on Wednesday, June 17th. Scotiabank upped their price objective on shares of Tanger from $37.00 to $41.00 and gave the stock a "sector perform" rating in a report on Thursday, June 18th. Finally, Citigroup increased their price objective on shares of Tanger from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $40.40.

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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