Hsbc Holdings PLC Buys Shares of 236,024 Tanger Inc. $SKT

Hsbc Holdings PLC bought a new stake in shares of Tanger Inc. (NYSE:SKT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 236,024 shares of the real estate investment trust’s stock, valued at approximately $9,321,000. Hsbc Holdings PLC owned 0.21% of Tanger as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Tanger by 7.7% during the second quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust’s stock valued at $876,688,000 after purchasing an additional 1,582,006 shares during the period. Vanguard Group Inc. raised its stake in shares of Tanger by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock valued at $598,979,000 after buying an additional 789,935 shares during the period. State Street Corp raised its stake in shares of Tanger by 3.4% in the second quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock valued at $202,924,000 after buying an additional 215,174 shares during the period. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 27,201 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Tanger by 11.3% during the 4th quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust’s stock valued at $81,019,000 after buying an additional 245,639 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Performance

Shares of SKT opened at $37.73 on Friday. Tanger Inc. has a 52-week low of $31.13 and a 52-week high of $42.53. The stock’s 50-day simple moving average is $39.82 and its 200 day simple moving average is $37.39. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12. The stock has a market capitalization of $4.33 billion, a price-to-earnings 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 earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The business had revenue of $156.39 million during the quarter, compared to analyst estimates of $142.58 million. During the same quarter in the previous year, the firm 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 forecast that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued 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 is 113.64%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. LADENBURG THALM/SH SH lifted their price objective on Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Scotiabank upped their price objective 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. Finally, BMO Capital Markets boosted their price target on shares of Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.40.

About Tanger

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.