Tanger Inc. $SKT Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC lifted its position in Tanger Inc. (NYSE:SKT) by 33.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,709 shares of the real estate investment trust’s stock after purchasing an additional 4,684 shares during the quarter. Metis Global Partners LLC’s holdings in Tanger were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SKT. Nissay Asset Management Corp Japan ADV increased its holdings in Tanger by 2.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 16,664 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 385 shares during the period. Xponance Inc. increased its stake in shares of Tanger by 6.7% in the first quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust’s stock worth $276,000 after acquiring an additional 514 shares during the period. Amalgamated Bank raised its holdings in shares of Tanger by 2.0% during the second quarter. Amalgamated Bank now owns 32,044 shares of the real estate investment trust’s stock worth $980,000 after purchasing an additional 613 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Tanger by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 52,900 shares of the real estate investment trust’s stock worth $1,618,000 after purchasing an additional 800 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Tanger by 4.3% during the second quarter. Bank of Montreal Can now owns 21,024 shares of the real estate investment trust’s stock valued at $643,000 after purchasing an additional 858 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SKT shares. Barclays lifted their price objective on Tanger from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. LADENBURG THALM/SH SH assumed coverage on Tanger in a research report on Friday, July 18th. They set a “buy” rating and a $35.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Friday, October 17th. Finally, Wall Street Zen upgraded shares of Tanger from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $36.00.

Insider Buying and Selling at Tanger

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the transaction, the executive vice president directly owned 92,665 shares of the company’s stock, valued at approximately $3,219,182.10. This trade represents a 15.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.70% of the stock is currently owned by company insiders.

Tanger Stock Down 1.0%

Tanger stock opened at $34.41 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $3.89 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37. The business has a 50 day simple moving average of $33.46 and a 200-day simple moving average of $31.95. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $37.57.

Tanger (NYSE:SKT) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $145.21 million for the quarter, compared to analysts’ expectations of $139.30 million. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. On average, analysts anticipate that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, October 31st. Tanger’s dividend payout ratio is 124.47%.

Tanger Company Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.