51,000 Shares in Tanger Inc. $SKT Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Tanger Inc. (NYSE:SKT) during the first quarter, according to its most recent filing with the SEC. The firm acquired 51,000 shares of the real estate investment trust’s stock, valued at approximately $1,733,000.

Several other institutional investors also recently bought and sold shares of SKT. Royal Bank of Canada lifted its stake in shares of Tanger by 2.8% in the 1st quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock worth $4,905,000 after acquiring an additional 3,995 shares during the period. AQR Capital Management LLC raised its holdings in Tanger by 17.8% during the first quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock worth $1,291,000 after purchasing an additional 5,765 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Tanger by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock valued at $2,171,000 after purchasing an additional 3,631 shares during the period. United Services Automobile Association acquired a new stake in Tanger in the first quarter valued at about $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Tanger by 436.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock valued at $27,073,000 after purchasing an additional 651,961 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Trading Down 0.6%

Shares of SKT stock opened at $39.23 on Thursday. Tanger Inc. has a fifty-two week low of $29.24 and a fifty-two week high of $41.50. The stock has a market cap of $4.51 billion, a P/E ratio of 36.66, a P/E/G ratio of 2.02 and a beta of 1.09. The business has a fifty day simple moving average of $37.42 and a 200-day simple moving average of $35.56. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 EPS 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 analyst estimates of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. Tanger’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, analysts forecast that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given a dividend of $0.3125 per share. The ex-dividend date was Thursday, April 30th. This represents a $1.25 annualized dividend and a dividend yield of 3.2%. This is an increase from Tanger’s previous quarterly dividend of $0.29. Tanger’s payout ratio is presently 116.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SKT shares. Deutsche Bank Aktiengesellschaft increased their target price on Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. LADENBURG THALM/SH SH boosted their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Barclays upped their price target on shares of Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Evercore set a $37.00 price target on shares of Tanger in a report on Friday, May 1st. Finally, UBS Group set a $41.00 price objective on shares of Tanger in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.50.

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.