19,485 Shares in Tanger Inc. $SKT Acquired by Man Group plc

Man Group plc purchased a new stake in shares of Tanger Inc. (NYSE:SKT) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 19,485 shares of the real estate investment trust’s stock, valued at approximately $769,000.

Several other institutional investors also recently bought and sold shares of the business. SHP Wealth Management purchased a new position in shares of Tanger in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares in the last quarter. Fifth Third Bancorp grew its stake in Tanger by 43.2% during the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 293 shares during the last quarter. Advisory Services Network LLC acquired a new position in Tanger during the 3rd quarter valued at about $33,000. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in Tanger in the fourth quarter valued at about $41,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SKT has been the subject of several recent analyst reports. Bank of America reissued an “underperform” rating and issued a $38.00 price target on shares of Tanger in a report on Tuesday, June 16th. LADENBURG THALM/SH SH increased their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Barclays lifted their target price on shares of Tanger from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. UBS Group set a $41.00 price target on shares of Tanger in a research note on Thursday, June 18th. Finally, Scotiabank lifted their price objective on shares of Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tanger currently has a consensus rating of “Hold” and a consensus target price of $40.40.

Tanger Trading Down 1.5%

Tanger stock opened at $37.15 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 2.65. Tanger Inc. has a 52 week low of $31.13 and a 52 week high of $42.53. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. The stock has a 50-day moving average price of $39.61 and a 200 day moving average price of $37.52.

Tanger (NYSE:SKT) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 EPS 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 firm had revenue of $156.39 million for the quarter, compared to analyst estimates of $142.58 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. Tanger’s revenue for the quarter was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Sell-side analysts anticipate that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, July 31st. Tanger’s dividend payout ratio is 113.64%.

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.