Fisher Asset Management LLC Lowers Position in Tanger Inc. $SKT

Fisher Asset Management LLC reduced its stake in Tanger Inc. (NYSE:SKT) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 459,942 shares of the real estate investment trust’s stock after selling 32,626 shares during the quarter. Fisher Asset Management LLC owned approximately 0.40% of Tanger worth $15,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Tanger by 31.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock valued at $5,124,000 after buying an additional 37,163 shares during the last quarter. Truist Financial Corp raised its position in Tanger by 736.7% in the 3rd quarter. Truist Financial Corp now owns 61,533 shares of the real estate investment trust’s stock valued at $2,082,000 after buying an additional 54,179 shares during the last quarter. American Century Companies Inc. raised its position in Tanger by 1,459.4% in the 3rd quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock valued at $26,662,000 after buying an additional 737,354 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of Tanger by 131.6% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 35,714 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 20,292 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Tanger by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 984,836 shares of the real estate investment trust’s stock valued at $33,327,000 after purchasing an additional 207,199 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Trading Up 0.1%

Shares of Tanger stock opened at $35.96 on Thursday. Tanger Inc. has a 1 year low of $28.69 and a 1 year high of $37.95. The firm has a market cap of $4.13 billion, a PE ratio of 33.60, a P/E/G ratio of 1.70 and a beta of 1.14. The stock has a fifty day moving average price of $35.67 and a 200-day moving average price of $34.61. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36.

Tanger (NYSE:SKT) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.04). The firm had revenue of $150.42 million for the quarter, compared to the consensus estimate of $142.94 million. Tanger had a return on equity of 17.53% and a net margin of 20.76%.The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Equities research analysts anticipate that Tanger Inc. will post 2.46 EPS for the current year.

Tanger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, April 30th. This is a positive change from Tanger’s previous quarterly dividend of $0.29. Tanger’s dividend payout ratio is currently 116.82%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Evercore set a $37.00 target price on Tanger in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research report on Monday, April 20th. Compass Point lowered Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research report on Thursday, February 26th. Barclays raised their target price on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Bank of America reaffirmed a “neutral” rating and set a $39.00 target price on shares of Tanger in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tanger presently has an average rating of “Hold” and an average price target of $37.43.

Tanger 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.