Tanger Inc. $SKT Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Tanger Inc. (NYSE:SKT) by 22.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,615 shares of the real estate investment trust’s stock after purchasing an additional 14,825 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.07% of Tanger worth $2,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of 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 purchasing an additional 3,995 shares during the last quarter. AQR Capital Management LLC lifted its position in 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 worth $1,291,000 after buying an additional 5,765 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 worth $2,171,000 after buying an additional 3,631 shares during the last quarter. United Services Automobile Association acquired a new position in Tanger during the first quarter worth $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Tanger by 436.9% in the 1st 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 in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Stock Up 0.8%

Shares of NYSE:SKT opened at $40.22 on Thursday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 2.04 and a beta of 1.09. Tanger Inc. has a 12-month low of $29.24 and a 12-month high of $41.50. The business has a 50-day moving average price of $38.00 and a 200 day moving average price of $35.94. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The company had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Sell-side analysts expect that Tanger Inc. will post 2.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Scotiabank lifted their price target on Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Evercore set a $39.00 price objective on shares of Tanger in a research report on Tuesday, July 7th. LADENBURG THALM/SH SH lifted their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Bank of America reiterated an “underperform” rating and issued a $38.00 target price on shares of Tanger in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.70.

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.