Tanger Inc. $SKT Shares Bought by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans increased its Tanger stake by 25.3% in the fourth quarter, buying 158,376 additional shares and bringing its total holding to 783,777 shares valued at about $26.2 million.
• Tanger reported quarterly EPS of $0.24, missing analyst expectations, though revenue came in above estimates at $150.42 million and rose 11.1% year over year. The company also issued FY2026 EPS guidance of 2.42 to 2.50.
• The company raised its quarterly dividend to $0.3125 per share from $0.29, equal to an annualized dividend of $1.25 and a yield of about 3.5%. However, its payout ratio is high at 116.82%.

Thrivent Financial for Lutherans boosted its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 25.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 783,777 shares of the real estate investment trust's stock after acquiring an additional 158,376 shares during the period. Thrivent Financial for Lutherans owned about 0.68% of Tanger worth $26,155,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SKT. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 valued at $199,000 after acquiring an additional 306 shares during the last quarter. M&T Bank Corp increased its position in shares of Tanger by 3.3% during 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 acquiring an additional 326 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Tanger by 11.6% during the third quarter. Smartleaf Asset Management LLC now owns 3,185 shares of the real estate investment trust's stock valued at $106,000 after acquiring an additional 330 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Tanger by 13.2% during the fourth quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust's stock valued at $95,000 after acquiring an additional 332 shares during the last quarter. Finally, M&G PLC increased its position in shares of Tanger by 5.6% during the third quarter. M&G PLC now owns 6,435 shares of the real estate investment trust's stock valued at $219,000 after acquiring an additional 340 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Stock Performance

NYSE:SKT opened at $35.23 on Monday. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. Tanger Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $37.95. The stock has a market cap of $4.05 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14. The firm's fifty day simple moving average is $35.70 and its 200-day simple moving average is $34.47.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). The business 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%. Tanger's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Analysts expect that Tanger Inc. will post 2.46 earnings per share for the current fiscal year.

Tanger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Thursday, April 30th. This is an increase from Tanger's previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.5%. Tanger's dividend payout ratio is 116.82%.

Analyst Ratings Changes

SKT has been the subject of a number of recent analyst reports. Compass Point cut shares of Tanger from a "buy" rating to a "neutral" rating and set a $38.00 price target for the company. in a research report on Thursday, February 26th. Weiss Ratings restated a "buy (b)" rating on shares of Tanger in a research report on Monday, April 20th. Evercore set a $37.00 price objective on shares of Tanger in a research report on Friday, May 1st. Scotiabank upped their price target on shares of Tanger from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 24th. Finally, Barclays upped their price target on shares of Tanger from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $37.29.

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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