Corient Private Wealth LP Purchases New Position in Tanger Inc. $SKT

Corient Private Wealth LP acquired a new position in Tanger Inc. (NYSE:SKT) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 54,711 shares of the real estate investment trust’s stock, valued at approximately $2,159,000.

A number of other hedge funds have also bought and sold shares of the business. SHP Wealth Management bought a new stake in Tanger during the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Tanger by 127.3% during the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 531 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Tanger by 43.2% in the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 293 shares during the period. Advisory Services Network LLC bought a new position in shares of Tanger in the third quarter worth $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in shares of Tanger in the fourth quarter worth $41,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKT has been the topic of a number of analyst reports. Bank of America reiterated an “underperform” rating and set a $38.00 price objective on shares of Tanger in a research note on Tuesday, June 16th. BMO Capital Markets raised their target price on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Citigroup raised their target price on Tanger from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Barclays lifted their target price on Tanger from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. Finally, UBS Group set a $41.00 price target on Tanger in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.40.

Tanger Stock Down 0.8%

Shares of NYSE:SKT opened at $37.72 on Thursday. The firm has a fifty day moving average price of $39.69 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. Tanger Inc. has a one year low of $31.13 and a one year high of $42.53. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 1.86 and a beta of 1.10.

Tanger (NYSE:SKT) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Analysts anticipate that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, July 31st. Tanger’s payout ratio is presently 113.64%.

About Tanger

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.