Yousif Capital Management LLC Raises Position in Tanger Inc. $SKT

Yousif Capital Management LLC grew its position in Tanger Inc. (NYSE:SKT) by 2.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,262 shares of the real estate investment trust’s stock after buying an additional 1,072 shares during the period. Yousif Capital Management LLC’s holdings in Tanger were worth $1,292,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SKT. Caitong International Asset Management Co. Ltd raised its holdings in Tanger by 3,451.2% in the first 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 last quarter. Quarry LP raised its holdings in Tanger by 2,296.1% in the first 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 last quarter. Farther Finance Advisors LLC raised its holdings in Tanger by 8,500.0% in the second quarter. Farther Finance Advisors LLC now owns 4,300 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 4,250 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Tanger in the second quarter worth about $166,000. Finally, Bailard Inc. purchased a new position in Tanger in the first quarter worth about $203,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SKT has been the subject of several research reports. Evercore ISI boosted their price objective on shares of Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Friday. Barclays boosted their price objective on shares of Tanger from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. LADENBURG THALM/SH SH initiated coverage on shares of Tanger in a report on Friday, July 18th. They set a “buy” rating and a $35.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.90.

Insider Transactions at Tanger

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $34.74, for a total transaction of $607,950.00. Following the completion of the sale, the executive vice president directly owned 92,665 shares in the company, valued at approximately $3,219,182.10. The trade was a 15.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.70% of the company’s stock.

Tanger Stock Performance

Shares of NYSE SKT opened at $32.58 on Tuesday. The firm has a 50 day moving average of $33.38 and a 200 day moving average of $31.72. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 37.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.36. Tanger Inc. has a 12-month low of $28.69 and a 12-month high of $37.57.

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

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, October 31st. Tanger’s payout ratio is 132.95%.

About Tanger

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.