Tanger Inc. $SKT Shares Bought by Legal & General Group Plc

Legal & General Group Plc raised its stake in Tanger Inc. (NYSE:SKT) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 862,321 shares of the real estate investment trust’s stock after acquiring an additional 84,514 shares during the period. Legal & General Group Plc owned 0.75% of Tanger worth $28,776,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SKT. Royal Bank of Canada boosted its stake in Tanger by 2.8% in the first quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock valued at $4,905,000 after acquiring an additional 3,995 shares during the period. AQR Capital Management LLC raised its holdings in shares of Tanger by 17.8% during the first quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock valued at $1,291,000 after buying an additional 5,765 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Tanger by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock valued at $2,171,000 after buying an additional 3,631 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Tanger during the first quarter valued at approximately $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Tanger by 436.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock valued at $27,073,000 after buying an additional 651,961 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Tanger Stock Performance

SKT opened at $36.07 on Friday. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.14. 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 Inc. has a 1-year low of $28.69 and a 1-year high of $37.95. The business has a 50 day moving average price of $35.71 and a two-hundred day moving average price of $34.64.

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

Tanger Increases Dividend

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

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.