20,202 Tanger Inc. $SKT Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Tanger Inc. (NYSE:SKT) by 20.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 79,981 shares of the real estate investment trust’s stock after selling 20,202 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of Tanger worth $2,740,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SKT. Envestnet Asset Management Inc. grew its stake in shares of Tanger by 1.8% in the second quarter. Envestnet Asset Management Inc. now owns 70,962 shares of the real estate investment trust’s stock worth $2,801,000 after purchasing an additional 1,279 shares in the last quarter. State Street Corp raised its stake in shares of Tanger by 0.5% during the second quarter. State Street Corp now owns 6,519,128 shares of the real estate investment trust’s stock valued at $257,310,000 after purchasing an additional 30,825 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Tanger by 8.6% during the second quarter. The Manufacturers Life Insurance Company now owns 54,328 shares of the real estate investment trust’s stock valued at $2,144,000 after purchasing an additional 4,296 shares in the last quarter. Tidal Investments LLC acquired a new stake in Tanger in the second quarter worth about $941,000. Finally, Engineers Gate Manager LP acquired a new stake in Tanger in the second quarter worth about $659,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

SKT has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Thursday. The Goldman Sachs Group set a $40.00 target price on shares of Tanger in a research note on Wednesday, October 7th. Barclays dropped their price target on shares of Tanger from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. JPMorgan Chase & Co. lowered shares of Tanger from an “overweight” rating to a “neutral” rating and set a $39.00 price target for the company. in a research note on Thursday, September 24th. Finally, Citigroup upped their price target on shares of Tanger from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Tanger presently has an average rating of “Hold” and a consensus target price of $40.17.

Tanger Stock Performance

SKT opened at $35.43 on Friday. The business has a 50 day moving average price of $36.51 and a two-hundred day moving average price of $37.50. 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 company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. Tanger Inc. has a 1-year low of $31.13 and a 1-year high of $42.53.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating 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 company had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. During the same period last year, the firm earned $0.58 EPS. The firm’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. Research analysts predict that Tanger Inc. will post 2.50 EPS for the current fiscal year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.3125 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.25 annualized dividend and a dividend yield of 3.5%. Tanger’s dividend payout ratio is 113.64%.

Tanger Profile

Tanger Inc is a real estate investment trust that owns, operates and develops open-air outlet shopping centers. The company leases retail space to a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and other consumer-oriented businesses.

Founded in 1981 by Stanley K. Tanger, the company helped establish the outlet-center format in the United States. Tanger’s properties are designed to serve both local shoppers and tourists, with tenants offering merchandise through outlet and value-oriented retail concepts.

Tanger serves markets across the United States and Canada through a portfolio of outlet centers located near major metropolitan areas, tourist destinations and highway corridors.