Tanger Inc. $SKT Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its holdings in shares of Tanger Inc. (NYSE:SKT) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,506 shares of the real estate investment trust’s stock after buying an additional 3,938 shares during the period. Los Angeles Capital Management LLC’s holdings in Tanger were worth $1,453,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Xponance Inc. grew its holdings in Tanger by 6.7% during the first quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust’s stock worth $276,000 after acquiring an additional 514 shares during the period. New York State Common Retirement Fund boosted its position in shares of Tanger by 20.5% during the 1st quarter. New York State Common Retirement Fund now owns 108,687 shares of the real estate investment trust’s stock worth $3,673,000 after purchasing an additional 18,486 shares in the last quarter. Bailard Inc. acquired a new position in shares of Tanger during the 1st quarter worth $203,000. Allianz Asset Management GmbH acquired a new position in shares of Tanger during the 1st quarter worth $2,219,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Tanger in the 1st quarter valued at about $887,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of Tanger stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $34.74, for a total transaction of $607,950.00. Following the completion of the sale, the executive vice president owned 92,665 shares in the company, valued at approximately $3,219,182.10. This trade represents a 15.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on SKT shares. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. LADENBURG THALM/SH SH initiated coverage on Tanger in a research note on Friday, July 18th. They set a “buy” rating and a $35.00 price target on the stock. Wall Street Zen upgraded Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Barclays lifted their price objective on Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Finally, Evercore ISI upped their target price on Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tanger has a consensus rating of “Hold” and an average target price of $36.00.

Tanger Trading Down 1.0%

Shares of SKT opened at $34.41 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11. Tanger Inc. has a 1-year low of $28.69 and a 1-year high of $37.57. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37. The firm has a 50 day simple moving average of $33.46 and a 200-day simple moving average of $31.95.

Tanger (NYSE:SKT) last posted its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $145.21 million for the quarter, compared to analyst estimates of $139.30 million. Tanger had a return on equity of 15.45% and a net margin of 18.22%.Tanger’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. Equities analysts forecast that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $0.2925 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.4%. Tanger’s dividend payout ratio (DPR) is presently 124.47%.

About Tanger

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.