Tanger Inc. $SKT Stock Position Raised by Sigma Planning Corp

Key Points

• Sigma Planning Corp increased its Tanger holdings by 234.6% in the third quarter, bringing its position to 49,923 shares valued at approximately $1.7 million. Institutional investors collectively own 85.23% of Tanger’s stock.
• Analyst sentiment remains cautious, with two Buy, seven Hold and one Sell rating; the consensus rating is Hold with an average price target of $40.17, compared with a recent share price of $36.14.
• 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 also declared a quarterly dividend of $0.3125 per share, representing a 3.5% annualized yield.

Sigma Planning Corp grew its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 234.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,923 shares of the real estate investment trust's stock after acquiring an additional 35,004 shares during the quarter. Sigma Planning Corp's holdings in Tanger were worth $1,712,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Tanger by 7.7% during the second quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust's stock valued at $876,688,000 after acquiring an additional 1,582,006 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Tanger in the 2nd quarter valued at approximately $33,960,000. Legal & General Group Plc purchased a new position in shares of Tanger in the 2nd quarter valued at approximately $31,684,000. Nicholas Investment Partners LP acquired a new stake in Tanger in the 2nd quarter worth approximately $16,977,000. Finally, Bank of America Corp DE acquired a new stake in Tanger in the 2nd quarter worth approximately $14,825,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Analysts Set New Price Targets

SKT has been the topic of several research analyst reports. Evercore set a $39.00 target price on shares of Tanger in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Tanger in a report on Thursday, October 15th. Barclays lowered their price objective on shares of Tanger from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Monday, September 28th. JPMorgan Chase & Co. downgraded shares of Tanger from an "overweight" rating to a "neutral" rating and set a $39.00 price objective for the company. in a research note on Thursday, September 24th. Finally, Citigroup boosted their price objective on shares of Tanger from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Tanger has an average rating of "Hold" and an average price target of $40.17.

Tanger Trading Down 1.4%

Shares of NYSE:SKT opened at $36.14 on Thursday. Tanger Inc. has a 52-week low of $31.13 and a 52-week high of $42.53. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 2.28 and a beta of 1.12. 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 business has a 50-day moving average price of $36.13 and a 200-day moving average price of $36.63.

Tanger (NYSE:SKT - Get Free Report) last released its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $142.58 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company'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. Equities analysts predict that Tanger Inc. will post 2.50 EPS for the current year.

Tanger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, October 30th. Tanger's payout ratio is presently 113.64%.

Tanger Profile

Tanger Inc NYSE: SKT is a real estate investment trust that owns, operates and develops open-air shopping centers, primarily outlet centers, in the United States and Canada. Its properties provide retail space for a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and specialty products.

The company generates revenue primarily by leasing retail space to tenants and providing related property-management services. Tanger's shopping centers are generally located near major highways, tourist destinations and metropolitan areas, where they serve both local shoppers and visiting consumers.

Founded by Stanley Tanger, the company opened its first outlet center in Burlington, North Carolina, in 1981.

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