Tanger Inc. $SKT Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its stake in Tanger Inc. (NYSE:SKT) by 32.4% in the second quarter, Holdings Channel.com reports. The firm owned 261,325 shares of the real estate investment trust’s stock after acquiring an additional 63,900 shares during the quarter. First Eagle Investment Management LLC’s holdings in Tanger were worth $10,314,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. SHP Wealth Management purchased a new position in Tanger during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Tanger by 127.3% in the 2nd 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 during the last quarter. Fifth Third Bancorp increased its stake in shares of Tanger by 43.2% in the 1st 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 last quarter. Advisory Services Network LLC purchased a new position in shares of Tanger during the 3rd quarter worth $33,000. Finally, Garton & Associates Financial Advisors LLC purchased a new position in shares of Tanger during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Price Performance

Tanger stock opened at $37.32 on Monday. The company’s 50 day simple moving average is $39.55 and its 200-day simple moving average is $37.54. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12. Tanger Inc. has a 1 year low of $31.13 and a 1 year high of $42.53. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10.

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

Tanger Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SKT. Bank of America reissued an “underperform” rating and set a $38.00 price target on shares of Tanger in a research report on Tuesday, June 16th. LADENBURG THALM/SH SH lifted their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Citigroup boosted their target price on shares of Tanger from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Scotiabank lifted their price target on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Finally, BMO Capital Markets upped their price objective on Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Tanger presently has an average rating of “Hold” and an average price target of $40.40.

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.