Nissay Asset Management Corp Japan ADV Raises Holdings in Tanger Inc. $SKT

Nissay Asset Management Corp Japan ADV raised its holdings in shares of Tanger Inc. (NYSE:SKT) by 2.4% in the first quarter, HoldingsChannel reports. The firm owned 16,664 shares of the real estate investment trust’s stock after buying an additional 385 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Tanger were worth $563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SKT. NBC Securities Inc. purchased a new stake in Tanger in the 1st quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd lifted its holdings in Tanger by 3,451.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,415 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Tanger in the 4th quarter worth approximately $68,000. Quarry LP lifted its holdings in Tanger by 2,296.1% in the 1st quarter. Quarry LP now owns 3,043 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 2,916 shares during the period. Finally, Contravisory Investment Management Inc. lifted its holdings in Tanger by 1,027.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 5,628 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 5,129 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $34.74, for a total transaction of $607,950.00. Following the completion of the transaction, the executive vice president owned 92,665 shares of the company’s stock, valued at $3,219,182.10. This trade represents a 15.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.70% of the stock is currently owned by company insiders.

Tanger Trading Down 0.8%

SKT opened at $34.46 on Wednesday. The stock has a market cap of $3.90 billion, a PE ratio of 39.15, a PEG ratio of 2.24 and a beta of 1.34. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.31. The business has a 50 day moving average of $32.31 and a 200-day moving average of $31.77. Tanger Inc. has a 52 week low of $28.69 and a 52 week high of $37.57.

Tanger (NYSE:SKT) last released its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $133.44 million during the quarter, compared to analysts’ expectations of $132.02 million. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Equities research analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, July 31st. Tanger’s dividend payout ratio (DPR) is 132.95%.

Analysts Set New Price Targets

SKT has been the subject of several research analyst reports. Wall Street Zen upgraded Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. LADENBURG THALM/SH SH initiated coverage on Tanger in a report on Friday, July 18th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Barclays increased their price objective on Tanger from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Tanger Company Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.