Legal & General Group Plc Acquires Shares of 802,738 Tanger Inc. $SKT

Legal & General Group Plc acquired a new stake in Tanger Inc. (NYSE:SKT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 802,738 shares of the real estate investment trust’s stock, valued at approximately $31,684,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SKT. BlackRock Inc. increased its holdings in shares of Tanger by 7.7% during the 2nd quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust’s stock worth $876,688,000 after acquiring an additional 1,582,006 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tanger by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock valued at $598,979,000 after purchasing an additional 789,935 shares during the last quarter. State Street Corp lifted its holdings in Tanger by 3.4% during the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock valued at $202,924,000 after purchasing an additional 215,174 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tanger by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock valued at $96,111,000 after purchasing an additional 27,201 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Tanger by 11.3% during the fourth quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust’s stock worth $81,019,000 after purchasing an additional 245,639 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Performance

SKT opened at $37.73 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12. The business has a fifty day simple moving average of $39.82 and a 200 day simple moving average of $37.39. Tanger Inc. has a 1 year low of $31.13 and a 1 year high of $42.53. The company has a market capitalization of $4.33 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The firm had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. During the same quarter last year, the business earned $0.58 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Research analysts expect that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, July 31st. Tanger’s dividend payout ratio (DPR) is currently 113.64%.

Wall Street Analyst Weigh In

Several research firms have commented on SKT. Evercore set a $39.00 price objective on shares of Tanger in a report on Tuesday, July 7th. UBS Group set a $41.00 target price on shares of Tanger in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Finally, Scotiabank increased their price target on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Two 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.40.

Tanger 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.