19,485 Shares in Tanger Inc. $SKT Acquired by Man Group plc

Man Group plc acquired a new stake in shares of Tanger Inc. (NYSE:SKT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,485 shares of the real estate investment trust’s stock, valued at approximately $769,000.

Other hedge funds also recently bought and sold shares of the company. Jupiter Topco LLC purchased a new stake in Tanger during the 2nd quarter valued at $33,960,000. Hsbc Holdings PLC bought a new position in shares of Tanger in the 2nd quarter worth approximately $9,321,000. Canada Pension Plan Investment Board purchased a new position in shares of Tanger in the second quarter worth approximately $746,000. Nicholas Investment Partners LP bought a new stake in Tanger during the second quarter valued at approximately $16,977,000. Finally, Legal & General Group Plc bought a new stake in Tanger during the second quarter valued at approximately $31,684,000. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Down 1.5%

Shares of NYSE SKT opened at $37.15 on Friday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 1.85 and a beta of 1.10. Tanger Inc. has a 12-month low of $31.13 and a 12-month high of $42.53. The firm’s 50-day moving average price is $39.61 and its 200-day moving average price is $37.52. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The business had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business’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. On average, equities research analysts anticipate that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.3125 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a yield of 3.4%. Tanger’s dividend payout ratio (DPR) is presently 113.64%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SKT shares. UBS Group set a $41.00 price target on shares of Tanger in a research note on Thursday, June 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Friday, July 17th. Bank of America restated an “underperform” rating and issued a $38.00 price target on shares of Tanger in a research report on Tuesday, June 16th. Evercore set a $39.00 price objective on Tanger in a research note on Tuesday, July 7th. Finally, Scotiabank boosted their price objective on Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.40.

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.