Yousif Capital Management LLC Purchases 1,072 Shares of Tanger Inc. $SKT

Yousif Capital Management LLC grew its position in Tanger Inc. (NYSE:SKT) by 2.6% in the second quarter, HoldingsChannel.com reports. The firm owned 42,262 shares of the real estate investment trust’s stock after acquiring an additional 1,072 shares during the period. Yousif Capital Management LLC’s holdings in Tanger were worth $1,292,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SKT. Caitong International Asset Management Co. Ltd boosted its position in shares of Tanger by 3,451.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,415 shares during the period. Quarry LP boosted its position in shares of Tanger by 2,296.1% in the first quarter. Quarry LP now owns 3,043 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 2,916 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Tanger by 8,500.0% in the second quarter. Farther Finance Advisors LLC now owns 4,300 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 4,250 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Tanger in the second quarter worth approximately $166,000. Finally, Bailard Inc. bought a new position in shares of Tanger in the first quarter worth approximately $203,000. 85.23% of the stock is currently owned by institutional investors.

Tanger Trading Down 0.4%

Shares of SKT opened at $32.58 on Tuesday. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $37.57. The company has a market cap of $3.69 billion, a P/E ratio of 37.02, a P/E/G ratio of 2.11 and a beta of 1.36. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. The company’s fifty day simple moving average is $33.38 and its 200-day simple moving average is $31.72.

Tanger (NYSE:SKT) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The business had revenue of $133.44 million for the quarter, compared to the consensus estimate of $132.02 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. As a group, analysts expect that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.2925 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.17 annualized dividend and a dividend yield of 3.6%. Tanger’s dividend payout ratio is currently 132.95%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SKT shares. Wall Street Zen upgraded shares of Tanger from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Evercore ISI upped their target price on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Friday. LADENBURG THALM/SH SH started coverage on shares of Tanger in a research report on Friday, July 18th. They set a “buy” rating and a $35.00 target price for the company. Barclays upped their target price on shares of Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.90.

Insider Buying and Selling at Tanger

In other news, EVP Gallardo Leslie Swanson sold 17,500 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the transaction, the executive vice president directly owned 92,665 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Corporate 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.