Everstar Asset Management LLC Takes $553,000 Position in Tanger Inc. $SKT

Everstar Asset Management LLC purchased a new stake in shares of Tanger Inc. (NYSE:SKT) during the 1st quarter, Holdings Channel reports. The fund purchased 16,286 shares of the real estate investment trust’s stock, valued at approximately $553,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SHP Wealth Management acquired a new position in Tanger during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its position in Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 531 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Tanger in the third quarter valued at approximately $33,000. Laurel Wealth Advisors LLC bought a new stake in shares of Tanger during the fourth quarter worth $34,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Tanger during the fourth quarter worth $41,000. 85.23% of the stock is owned by institutional investors.

Tanger Stock Down 0.2%

NYSE:SKT opened at $39.06 on Monday. Tanger Inc. has a one year low of $29.24 and a one year high of $41.03. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. The company has a market cap of $4.49 billion, a PE ratio of 36.51, a P/E/G ratio of 2.00 and a beta of 1.11. The firm’s 50 day simple moving average is $36.87 and its 200 day simple moving average is $35.14.

Tanger (NYSE:SKT) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). The business 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 revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, research analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were issued a $0.3125 dividend. The ex-dividend date was Thursday, April 30th. This is a positive change from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a yield of 3.2%. Tanger’s dividend payout ratio (DPR) is currently 116.82%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SKT. BMO Capital Markets upped their price target on shares of Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Scotiabank raised their price objective on Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Thursday. Bank of America restated an “underperform” rating and set a $38.00 price objective on shares of Tanger in a research report on Tuesday, June 16th. Evercore set a $37.00 target price on Tanger in a report on Friday, May 1st. Finally, LADENBURG THALM/SH SH increased their target price on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.50.

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.