Tanger Inc. $SKT Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its holdings in shares of Tanger Inc. (NYSE:SKT) by 26.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,852 shares of the real estate investment trust’s stock after purchasing an additional 2,682 shares during the period. Inspire Investing LLC’s holdings in Tanger were worth $393,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Tanger by 3,451.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,415 shares during the period. Quarry LP grew its holdings in Tanger by 2,296.1% during the first quarter. Quarry LP now owns 3,043 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 2,916 shares during the period. Farther Finance Advisors LLC grew its holdings in Tanger by 8,500.0% during the second quarter. Farther Finance Advisors LLC now owns 4,300 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 4,250 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Tanger during the second quarter worth about $166,000. Finally, Bailard Inc. acquired a new position in Tanger during the first quarter worth about $203,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Tanger Trading Up 2.2%

NYSE:SKT opened at $32.54 on Tuesday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.31. Tanger Inc. has a 1-year low of $28.69 and a 1-year high of $37.57. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 2.05 and a beta of 1.36. The stock has a fifty day simple moving average of $33.32 and a 200 day simple moving average of $31.73.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The firm had revenue of $133.44 million during the quarter, compared to analyst estimates of $132.02 million. During the same period last year, the company posted $0.53 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Sell-side analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on SKT. Barclays lifted their target price on Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Wall Street Zen raised Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. LADENBURG THALM/SH SH began coverage on Tanger in a report on Friday, July 18th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Evercore ISI lifted their target price on Tanger from $33.00 to $35.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Tanger presently has an average rating of “Moderate Buy” and an average target price of $36.80.

About Tanger

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.