Tanger Inc. $SKT Shares Acquired by State Street Corp

Key Points

• State Street increased its Tanger stake by 0.5%, acquiring 30,825 additional shares and bringing its holdings to 6.52 million shares valued at approximately $257.3 million. Institutional investors collectively own 85.23% of SKT.
• Analysts maintain a generally cautious outlook, with Tanger receiving an average “Hold” rating and a consensus price target of $40.40; ratings include two Buys, seven Holds, and one Sell.
• Tanger exceeded quarterly earnings expectations, reporting $0.29 EPS and $156.39 million in revenue, while maintaining a quarterly dividend of $0.3125 per share, or $1.25 annually.

State Street Corp increased its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,519,128 shares of the real estate investment trust's stock after purchasing an additional 30,825 shares during the period. State Street Corp owned 5.67% of Tanger worth $257,310,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SHP Wealth Management purchased a new stake in Tanger in the 4th quarter valued at about $25,000. Fifth Third Bancorp lifted its holdings in shares of Tanger by 43.2% during the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 293 shares during the period. CENTRAL TRUST Co acquired a new stake in shares of Tanger in the first quarter worth approximately $54,000. IFP Advisors Inc grew its holdings in Tanger by 80.5% in the second quarter. IFP Advisors Inc now owns 1,628 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 726 shares during the period. Finally, Assetmark Inc. grew its holdings in Tanger by 32.1% in the first quarter. Assetmark Inc. now owns 2,028 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 493 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SKT has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH increased their price target on shares of Tanger from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Citigroup upped their price objective on Tanger from $39.00 to $41.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Evercore set a $39.00 target price on Tanger in a research report on Tuesday, July 7th. UBS Group set a $41.00 price objective on Tanger in a research note on Thursday, June 18th. Finally, Bank of America reiterated an "underperform" rating and set a $38.00 target price on shares of Tanger in a report on Tuesday, June 16th. Two investment 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $40.40.

Tanger Price Performance

Shares of NYSE SKT opened at $35.18 on Thursday. Tanger Inc. has a 1-year low of $31.13 and a 1-year high of $42.53. The business has a 50-day moving average of $38.66 and a 200-day moving average of $37.53. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 1.74 and a beta of 1.10.

Tanger (NYSE:SKT - Get Free Report) last announced its 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. The business had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The company's revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. On average, equities analysts anticipate that Tanger Inc. will post 2.49 EPS for the current fiscal year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, July 31st. Tanger's payout ratio is presently 113.64%.

Tanger Company Profile

Tanger Inc NYSE: SKT is a real estate investment trust that owns, operates and develops open-air outlet and shopping centers. Its properties are designed to serve value-conscious consumers and include a mix of national and regional retailers across apparel, footwear, home goods, dining and other consumer categories.

The company's primary business activities include leasing retail space, managing shopping-center operations and maintaining tenant relationships. Tanger's portfolio serves shoppers in the United States and Canada, with properties generally located near major metropolitan areas, tourist destinations and high-traffic travel corridors.

Founded in 1981 by Stanley K.

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