Truist Financial Corp Decreases Stock Holdings in Tanger Inc. $SKT

Truist Financial Corp trimmed its position in Tanger Inc. (NYSE:SKT) by 88.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,274 shares of the real estate investment trust’s stock after selling 54,259 shares during the quarter. Truist Financial Corp’s holdings in Tanger were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 531 shares during the period. Advisory Services Network LLC purchased a new position in shares of Tanger in the third quarter worth $33,000. Laurel Wealth Advisors LLC purchased a new position in Tanger during the 4th quarter valued at $34,000. Quarry LP purchased a new position in Tanger during the 3rd quarter valued at $49,000. Finally, Assetmark Inc. increased its position in Tanger by 235.9% during the 4th quarter. Assetmark Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,078 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SKT. Bank of America reissued a “neutral” rating and set a $39.00 price objective on shares of Tanger in a research report on Friday, March 6th. Evercore set a $37.00 price objective on shares of Tanger in a research report on Friday, May 1st. Barclays boosted their price objective on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a research report on Thursday, February 26th. Finally, Scotiabank boosted their price objective on shares of Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tanger has an average rating of “Hold” and an average target price of $37.43.

Tanger Stock Down 0.9%

Shares of Tanger stock opened at $35.47 on Friday. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67. The company’s fifty day simple moving average is $35.65 and its two-hundred day simple moving average is $34.55. The company has a market cap of $4.07 billion, a P/E ratio of 33.15, a PEG ratio of 1.70 and a beta of 1.14. Tanger Inc. has a 12-month low of $28.69 and a 12-month high of $37.95.

Tanger (NYSE:SKT) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The business had revenue of $150.42 million during the quarter, compared to analysts’ expectations of $142.94 million. Tanger had a return on equity of 17.53% and a net margin of 20.76%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Research analysts anticipate that Tanger Inc. will post 2.46 EPS for the current year.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a $0.3125 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Tanger’s previous quarterly dividend of $0.29. Tanger’s payout ratio is currently 116.82%.

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.