Vise Technologies Inc. Makes New Investment in Tanger Inc. $SKT

Vise Technologies Inc. acquired a new stake in shares of Tanger Inc. (NYSE:SKT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,123 shares of the real estate investment trust’s stock, valued at approximately $310,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV raised its stake in Tanger by 2.4% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 16,664 shares of the real estate investment trust’s stock valued at $563,000 after buying an additional 385 shares during the last quarter. Xponance Inc. increased its holdings in shares of Tanger by 6.7% during the first quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust’s stock valued at $276,000 after acquiring an additional 514 shares in the last quarter. Amalgamated Bank raised its position in shares of Tanger by 2.0% in the 2nd quarter. Amalgamated Bank now owns 32,044 shares of the real estate investment trust’s stock valued at $980,000 after purchasing an additional 613 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Tanger by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 52,900 shares of the real estate investment trust’s stock valued at $1,618,000 after purchasing an additional 800 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Tanger by 4.3% in the 2nd quarter. Bank of Montreal Can now owns 21,024 shares of the real estate investment trust’s stock worth $643,000 after purchasing an additional 858 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Trading Up 0.3%

Shares of Tanger stock opened at $33.93 on Monday. The stock has a market cap of $3.91 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37. The firm has a fifty day moving average price of $33.43 and a 200 day moving average price of $31.98. Tanger Inc. has a 1 year low of $28.69 and a 1 year high of $37.57. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11.

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

Tanger Announces Dividend

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

Insider Transactions at Tanger

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SKT shares. Wall Street Zen upgraded shares of Tanger from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a research report on Wednesday, October 8th. Evercore ISI raised their target price on Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. Finally, Barclays lifted their price target on Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.00.

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.