Hsbc Holdings PLC Sells 58,734 Shares of Tanger Inc. $SKT

Hsbc Holdings PLC reduced its stake in Tanger Inc. (NYSE:SKT) by 21.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 209,869 shares of the real estate investment trust’s stock after selling 58,734 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of Tanger worth $7,131,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SKT. Allspring Global Investments Holdings LLC grew its position in Tanger by 31.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock valued at $5,124,000 after acquiring an additional 37,163 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Tanger by 328.2% during the fourth quarter. SG Americas Securities LLC now owns 154,104 shares of the real estate investment trust’s stock worth $5,142,000 after purchasing an additional 118,113 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of Tanger by 319.8% during the third quarter. Tudor Investment Corp ET AL now owns 94,736 shares of the real estate investment trust’s stock worth $3,206,000 after purchasing an additional 72,171 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Tanger by 25.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 783,777 shares of the real estate investment trust’s stock valued at $26,155,000 after purchasing an additional 158,376 shares during the period. Finally, Diversified Trust Co. purchased a new position in shares of Tanger in the fourth quarter valued at $667,000. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SKT. UBS Group set a $41.00 price objective on Tanger in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft increased their target price on Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Bank of America restated an “underperform” rating and issued a $38.00 price target on shares of Tanger in a research note on Tuesday, June 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Friday, July 17th. Finally, Barclays boosted their target price on shares of Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.70.

Tanger Stock Performance

SKT opened at $41.08 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. The firm has a market cap of $4.72 billion, a PE ratio of 38.39, a P/E/G ratio of 2.12 and a beta of 1.09. The business has a fifty day simple moving average of $38.67 and a 200-day simple moving average of $36.28. Tanger Inc. has a fifty-two week low of $29.24 and a fifty-two week high of $42.05.

Tanger (NYSE:SKT) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The company had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. During the same quarter last year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, equities analysts predict that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a yield of 3.0%. Tanger’s dividend payout ratio (DPR) is currently 116.82%.

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.