Tanger Inc. $SKT Stake Raised by Osaic Holdings Inc.

Osaic Holdings Inc. boosted its holdings in shares of Tanger Inc. (NYSE:SKT) by 99.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,459 shares of the real estate investment trust’s stock after acquiring an additional 27,704 shares during the quarter. Osaic Holdings Inc.’s holdings in Tanger were worth $1,696,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares in the last quarter. Neo Ivy Capital Management increased its stake in Tanger by 346.3% in the 2nd quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,018 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Tanger in the 2nd quarter worth approximately $47,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Tanger during the 2nd quarter valued at $64,000. Finally, Quarry LP boosted its stake in shares of Tanger by 2,296.1% during the 1st quarter. Quarry LP now owns 3,043 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 2,916 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SKT shares. Barclays upped their price target on shares of Tanger from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 18th. LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Evercore ISI increased their price objective on Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. Finally, Citigroup reaffirmed a “neutral” rating and set a $35.00 price objective (down previously from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Tanger has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Tanger Stock Down 0.3%

Shares of SKT stock opened at $33.90 on Tuesday. The stock’s 50 day simple moving average is $33.47 and its 200 day simple moving average is $32.73. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $36.76. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 2.04 and a beta of 1.06.

Tanger (NYSE:SKT) last announced its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Tanger had a return on equity of 15.75% and a net margin of 19.15%.The firm had revenue of $145.21 million during the quarter, compared to analysts’ expectations of $139.30 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. As a group, research analysts predict that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, October 31st. Tanger’s dividend payout ratio (DPR) is 124.47%.

Tanger Company 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.