Oliver Luxxe Assets LLC Makes New Investment in Tanger Inc. $SKT

Oliver Luxxe Assets LLC acquired a new stake in Tanger Inc. (NYSE:SKT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 55,162 shares of the real estate investment trust’s stock, valued at approximately $1,867,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Tanger in the third quarter valued at approximately $1,218,000. HB Wealth Management LLC bought a new position in Tanger during the 3rd quarter worth $297,000. City Holding Co. acquired a new position in Tanger in the 3rd quarter valued at $34,000. Salomon & Ludwin LLC acquired a new position in Tanger in the 3rd quarter valued at $26,000. Finally, Greenwood Capital Associates LLC lifted its position in shares of Tanger by 37.8% during the 3rd quarter. Greenwood Capital Associates LLC now owns 48,333 shares of the real estate investment trust’s stock valued at $1,636,000 after acquiring an additional 13,250 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Down 0.9%

SKT stock opened at $34.10 on Monday. The stock has a market capitalization of $3.93 billion, a P/E ratio of 36.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.06. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.20. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $36.76. The firm has a 50-day moving average price of $33.60 and a 200-day moving average price of $32.97.

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

Tanger Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.