Wellington Management Group LLP Sells 728,150 Shares of Tanger Inc. $SKT

Wellington Management Group LLP lessened its holdings in shares of Tanger Inc. (NYSE:SKT) by 43.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 965,900 shares of the real estate investment trust’s stock after selling 728,150 shares during the quarter. Wellington Management Group LLP owned approximately 0.84% of Tanger worth $38,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of SKT. BlackRock Inc. raised its holdings in Tanger by 7.7% in the 2nd quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust’s stock worth $876,688,000 after purchasing an additional 1,582,006 shares during the period. State Street Corp grew its holdings in Tanger by 3.4% during the second quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock valued at $202,924,000 after purchasing an additional 215,174 shares during the period. Geode Capital Management LLC increased its position in Tanger by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock worth $96,111,000 after buying an additional 27,201 shares in the last quarter. Invesco Ltd. increased its position in Tanger by 13.0% in the third quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock worth $77,870,000 after buying an additional 264,408 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Tanger by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,132,775 shares of the real estate investment trust’s stock worth $71,171,000 after buying an additional 98,949 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SKT. LADENBURG THALM/SH SH boosted their price objective on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Citigroup raised their target price on shares of Tanger from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Friday, July 17th. Evercore set a $39.00 price objective on shares of Tanger in a research note on Tuesday, July 7th. Finally, UBS Group set a $41.00 price objective on shares of Tanger in a research report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $40.40.

Tanger Stock Up 0.5%

Shares of SKT opened at $37.32 on Friday. The business’s 50 day moving average is $39.55 and its 200 day moving average is $37.52. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65. Tanger Inc. has a 12-month low of $31.13 and a 12-month high of $42.53. The company has a market capitalization of $4.29 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10.

Tanger (NYSE:SKT) last posted 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. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The business had revenue of $156.39 million during the quarter, compared to the consensus estimate of $142.58 million. During the same period in the prior year, the company posted $0.58 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Research analysts expect that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Dividend Announcement

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