Tanger Inc. $SKT Shares Bought by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its Tanger stake by 32.4% in the second quarter, purchasing 63,900 additional shares and bringing its holdings to 261,325 shares valued at approximately $10.3 million. Institutional investors collectively own 85.23% of SKT.
• Analysts maintain a generally neutral outlook, with seven Hold, two Buy, and one Sell rating. The consensus rating is “Hold,” with an average price target of $40.40 versus the stock’s reported price of $37.32.
• Tanger exceeded quarterly expectations with adjusted EPS of $0.29 and revenue of $156.39 million, while reporting 11.2% year-over-year revenue growth. The REIT also pays a quarterly dividend of $0.3125 per share, equivalent to a 3.3% annualized yield.

First Eagle Investment Management LLC raised its position in Tanger Inc. (NYSE:SKT - Free Report) by 32.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 261,325 shares of the real estate investment trust's stock after buying an additional 63,900 shares during the period. First Eagle Investment Management LLC owned about 0.23% of Tanger worth $10,314,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SKT. Fifth Third Bancorp boosted its stake 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Tanger by 5.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust's stock worth $199,000 after purchasing an additional 306 shares in the last quarter. Choreo LLC boosted its position in Tanger by 3.9% during the second quarter. Choreo LLC now owns 8,129 shares of the real estate investment trust's stock worth $321,000 after purchasing an additional 308 shares in the last quarter. M&T Bank Corp grew its holdings in Tanger by 3.3% in the second quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust's stock valued at $314,000 after purchasing an additional 326 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Tanger by 2.0% in the third quarter. Mercer Global Advisors Inc. ADV now owns 17,496 shares of the real estate investment trust's stock valued at $592,000 after buying an additional 346 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SKT. BMO Capital Markets upped 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. Citigroup lifted their price target on shares of Tanger from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Evercore set a $39.00 price objective on shares of Tanger in a research report on Tuesday, July 7th. Barclays increased their price objective on shares of Tanger from $41.00 to $42.00 and gave the company an "equal weight" rating in a report on Monday, August 17th. Finally, Bank of America reiterated an "underperform" rating and issued a $38.00 target price on shares of Tanger in a research report on Tuesday, June 16th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $40.40.

Tanger Stock Performance

NYSE SKT opened at $37.32 on Monday. 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 stock's 50 day simple moving average is $39.55 and its 200-day simple moving average is $37.54. The company has a market cap of $4.29 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. Tanger Inc. has a 1-year low of $31.13 and a 1-year high of $42.53.

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, topping the consensus estimate of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The firm had revenue of $156.39 million during the quarter, compared to analysts' expectations of $142.58 million. During the same period in the previous year, the business earned $0.58 earnings per share. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, equities research analysts anticipate that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.3%. Tanger's dividend payout ratio is presently 113.64%.

Tanger Profile

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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