Tanger Inc. $SKT Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in shares of Tanger Inc. (NYSE:SKT) by 3.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 164,648 shares of the real estate investment trust’s stock after selling 5,912 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Tanger were worth $5,035,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV increased its position in Tanger by 2.4% during 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 purchasing an additional 385 shares in the last quarter. Xponance Inc. increased its position in Tanger by 6.7% during the 1st quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust’s stock worth $276,000 after purchasing an additional 514 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Tanger by 1.5% during the 2nd 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 in the last quarter. Maryland State Retirement & Pension System increased its position in Tanger by 2.9% during the 2nd quarter. Maryland State Retirement & Pension System now owns 33,260 shares of the real estate investment trust’s stock worth $1,017,000 after purchasing an additional 938 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in Tanger by 4.4% during the 1st quarter. Cetera Investment Advisers now owns 22,807 shares of the real estate investment trust’s stock worth $771,000 after purchasing an additional 966 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Transactions at Tanger

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of the firm’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $34.74, for a total transaction of $607,950.00. Following the transaction, the executive vice president directly owned 92,665 shares in the company, valued at $3,219,182.10. This trade represents a 15.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Tanger in a research report on Friday, July 18th. They set a “buy” rating and a $35.00 target price for the company. Barclays increased their price objective on shares of Tanger from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Evercore ISI increased their price objective on shares of Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Tanger from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Tanger Stock Performance

Tanger stock opened at $33.16 on Wednesday. The stock has a market cap of $3.75 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 2.16 and a beta of 1.36. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. The stock has a 50 day moving average of $33.46 and a 200-day moving average of $31.81. Tanger Inc. has a 52 week low of $28.69 and a 52 week high of $37.57.

Tanger (NYSE:SKT) last released its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $133.44 million during the quarter, compared to analysts’ expectations of $132.02 million. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. On average, analysts expect that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, October 31st. Tanger’s dividend payout ratio is 132.95%.

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.