Jefferies Financial Group Inc. Reduces Position in Tanger Inc. $SKT

by · The Cerbat Gem

Jefferies Financial Group Inc. decreased its holdings in shares of Tanger Inc. (NYSE:SKT – Free Report) by 72.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,730 shares of the real estate investment trust’s stock after selling 82,891 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Tanger were worth $1,059,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Tanger by 127.3% during 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 in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Tanger during the third quarter worth $33,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Tanger during the fourth quarter worth $34,000. Quarry LP purchased a new stake in shares of Tanger during the third quarter worth $49,000. Finally, Assetmark Inc. grew its holdings in shares of Tanger by 235.9% during the fourth quarter. Assetmark Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 1,078 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Trading Up 1.9%

Shares of SKT opened at $36.65 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. Tanger Inc. has a 12-month low of $28.69 and a 12-month high of $37.95. The firm has a 50-day moving average price of $35.69 and a 200 day moving average price of $34.63. The firm has a market capitalization of $4.21 billion, a P/E ratio of 34.26, a P/E/G ratio of 1.71 and a beta of 1.14.

Tanger (NYSE:SKT – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $142.94 million. During the same period in the prior year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Sell-side analysts forecast that Tanger Inc. will post 2.46 EPS for the current year.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a $0.3125 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This is an increase from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a yield of 3.4%. Tanger’s dividend payout ratio is currently 116.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SKT shares. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Barclays upped their price objective on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Bank of America reissued a “neutral” rating and issued a $39.00 price objective on shares of Tanger in a report on Friday, March 6th. Compass Point lowered shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a report on Thursday, February 26th. Finally, Evercore set a $37.00 price objective on shares of Tanger in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tanger currently has an average rating of “Hold” and an average target price of $37.43.

View Our Latest Stock Analysis on SKT

Tanger Company Profile

(Free Report)

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.

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