Principal Financial Group Inc. Raises Stock Position in Tanger Inc. $SKT

Principal Financial Group Inc. lifted its position in Tanger Inc. (NYSE:SKT) by 2.2% in the first quarter, Holdings Channel reports. The firm owned 562,404 shares of the real estate investment trust’s stock after buying an additional 12,333 shares during the period. Principal Financial Group Inc.’s holdings in Tanger were worth $19,110,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SKT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Tanger by 22.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 79,615 shares of the real estate investment trust’s stock worth $2,705,000 after purchasing an additional 14,825 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Tanger by 43.2% in the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 293 shares during the period. Resona Asset Management Co. Ltd. grew its position in shares of Tanger by 6.0% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 50,970 shares of the real estate investment trust’s stock worth $1,734,000 after buying an additional 2,866 shares in the last quarter. Greenwood Capital Associates LLC grew its position in shares of Tanger by 11.6% during the 1st quarter. Greenwood Capital Associates LLC now owns 56,834 shares of the real estate investment trust’s stock worth $1,931,000 after buying an additional 5,909 shares in the last quarter. Finally, Abel Hall LLC purchased a new position in shares of Tanger during the first quarter valued at $243,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Price Performance

Shares of SKT stock opened at $41.42 on Thursday. The stock’s 50-day moving average is $38.56 and its 200 day moving average is $36.22. Tanger Inc. has a 1-year low of $29.24 and a 1-year high of $42.05. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. The company has a market cap of $4.76 billion, a P/E ratio of 38.71, a PEG ratio of 2.14 and a beta of 1.09.

Tanger (NYSE:SKT) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The firm had revenue of $150.42 million for the quarter, compared to analysts’ expectations of $142.94 million. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Research analysts predict that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a yield of 3.0%. Tanger’s dividend payout ratio is presently 116.82%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SKT. Bank of America restated an “underperform” rating and issued a $38.00 price objective on shares of Tanger in a report on Tuesday, June 16th. Scotiabank raised their target price on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Friday, July 17th. 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 report on Tuesday, May 12th. Finally, UBS Group set a $41.00 price objective on shares of Tanger in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Tanger presently has an average rating of “Hold” and a consensus price target of $39.70.

Tanger Company 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.