NewEdge Advisors LLC Acquires 17,297 Shares of Tanger Inc. $SKT

NewEdge Advisors LLC boosted its holdings in Tanger Inc. (NYSE:SKT – Free Report) by 17.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,911 shares of the real estate investment trust’s stock after purchasing an additional 17,297 shares during the period. NewEdge Advisors LLC’s holdings in Tanger were worth $4,041,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 293 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Tanger by 5.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 306 shares during the period. M&T Bank Corp increased its holdings in Tanger by 3.3% during the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 326 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Tanger by 2.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 17,496 shares of the real estate investment trust’s stock valued at $592,000 after purchasing an additional 346 shares during the last quarter. Finally, Lido Advisors LLC lifted its holdings in Tanger by 3.0% in the 4th quarter. Lido Advisors LLC now owns 12,440 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 365 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Stock Down 0.2%

Shares of NYSE SKT opened at $38.49 on Thursday. The company has a market cap of $4.42 billion, a P/E ratio of 34.99, a PEG ratio of 1.89 and a beta of 1.10. The firm has a 50-day simple moving average of $39.98 and a two-hundred day simple moving average of $36.94. Tanger Inc. has a 1 year low of $31.13 and a 1 year high of $42.53. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12.

Tanger (NYSE:SKT – Get Free Report) last released its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.04. The firm had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Research analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current year.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, July 31st. Tanger’s dividend payout ratio (DPR) is 113.64%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SKT shares. UBS Group set a $41.00 target price on Tanger in a research note on Thursday, June 18th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Friday, July 17th. Evercore set a $39.00 price objective on shares of Tanger in a report on Tuesday, July 7th. Bank of America reaffirmed an “underperform” rating and set a $38.00 price objective on shares of Tanger in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.30.

Read Our Latest Stock Report on Tanger

Tanger 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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