Vanderbilt University Has $237,000 Holdings in Tanger Inc. $SKT

Key Points

• Vanderbilt University reduced its holdings in Tanger Inc. by 61.9% in the second quarter, now owning a total of 7,754 shares worth approximately $237,000.
• Several institutional investors, including Caitong International Asset Management and Quarry LP, have significantly increased their positions in Tanger, with increases of 3,451.2% and 2,296.1%, respectively.
• Tanger Inc. recently announced a quarterly dividend of $0.2925 per share, reflecting a dividend yield of 3.5% and a payout ratio of 132.95%.

Vanderbilt University decreased its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 61.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,754 shares of the real estate investment trust's stock after selling 12,606 shares during the quarter. Vanderbilt University's holdings in Tanger were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Tanger during the first quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Tanger by 3,451.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,415 shares during the last quarter. Quarry LP boosted its position in shares of Tanger by 2,296.1% during the first quarter. Quarry LP now owns 3,043 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 2,916 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Tanger by 8,500.0% during the second quarter. Farther Finance Advisors LLC now owns 4,300 shares of the real estate investment trust's stock valued at $131,000 after buying an additional 4,250 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Tanger during the second quarter valued at approximately $166,000. Institutional investors own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SKT shares. LADENBURG THALM/SH SH started coverage on Tanger in a research report on Friday, July 18th. They set a "buy" rating and a $35.00 target price on the stock. Barclays boosted their price objective on Tanger from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 27th. Evercore ISI boosted their price objective on Tanger from $33.00 to $35.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Finally, Wall Street Zen raised Tanger from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tanger has a consensus rating of "Moderate Buy" and a consensus target price of $36.70.

Tanger Price Performance

Shares of NYSE SKT opened at $33.73 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $3.82 billion, a P/E ratio of 38.33, a P/E/G ratio of 2.18 and a beta of 1.36. The stock's 50-day simple moving average is $33.00 and its two-hundred day simple moving average is $31.73. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The business had revenue of $133.44 million for the quarter, compared to analyst estimates of $132.02 million. During the same period last year, the company earned $0.53 EPS. Tanger's revenue for the quarter was up 9.2% compared to the same quarter last year. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. As a group, equities analysts anticipate that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a $0.2925 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.5%. Tanger's dividend payout ratio (DPR) is presently 132.95%.

Insider Activity at Tanger

In other Tanger news, EVP Gallardo Leslie Swanson sold 17,500 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $34.74, for a total value of $607,950.00. Following the transaction, the executive vice president owned 92,665 shares of the company's stock, valued at approximately $3,219,182.10. This represents a 15.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.70% of the company's stock.

Tanger Profile

Tanger Inc NYSE: SKT is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.

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