Principal Financial Group Inc. Raises Holdings in Tanger Inc. $SKT

Principal Financial Group Inc. increased its position in Tanger Inc. (NYSE:SKT) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 562,404 shares of the real estate investment trust’s stock after buying an additional 12,333 shares during the period. Principal Financial Group Inc. owned 0.49% of Tanger worth $19,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SKT. Allspring Global Investments Holdings LLC boosted its position in shares of Tanger by 31.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock valued at $5,124,000 after acquiring an additional 37,163 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Tanger by 28.8% in the 4th quarter. Hsbc Holdings PLC now owns 268,603 shares of the real estate investment trust’s stock worth $8,987,000 after buying an additional 60,035 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Tanger by 328.2% in the 4th quarter. SG Americas Securities LLC now owns 154,104 shares of the real estate investment trust’s stock worth $5,142,000 after buying an additional 118,113 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Tanger by 319.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 94,736 shares of the real estate investment trust’s stock worth $3,206,000 after buying an additional 72,171 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Tanger by 25.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 783,777 shares of the real estate investment trust’s stock valued at $26,155,000 after buying an additional 158,376 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SKT. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Friday, July 17th. BMO Capital Markets lifted their target price on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Evercore set a $39.00 target price on Tanger in a research report on Tuesday, July 7th. Barclays increased 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. Finally, Bank of America restated an “underperform” rating and issued a $38.00 price target on shares of Tanger in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.70.

Tanger Stock Performance

Tanger stock opened at $41.42 on Thursday. 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 firm has a market capitalization of $4.76 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. Tanger Inc. has a 1-year low of $29.24 and a 1-year high of $42.05. The company’s 50-day moving average is $38.56 and its 200 day moving average is $36.22.

Tanger (NYSE:SKT) last announced its 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). Tanger had a net margin of 20.76% and a return on equity of 17.53%. The business had revenue of $150.42 million for the quarter, compared to analysts’ expectations of $142.94 million. During the same quarter last year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Research analysts forecast that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.3125 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a yield of 3.0%. Tanger’s dividend payout ratio (DPR) is presently 116.82%.

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.