Tanger Inc. (SKT) to Distribute Quarterly Dividend of $0.31 on November 13th

Tanger Inc. (NYSE:SKT) announced a quarterly dividend on Thursday, October 15th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.3125 per share by the real estate investment trust on Friday, November 13th. This represents a $1.25 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, October 30th.

Tanger has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 4 years. Tanger has a payout ratio of 127.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Tanger to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 47.9%.

Tanger Price Performance

Shares of SKT opened at $36.61 on Wednesday. Tanger has a one year low of $31.13 and a one year high of $42.53. The stock has a 50-day moving average price of $36.18 and a 200 day moving average price of $36.62.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The business had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. Tanger’s revenue for the quarter was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. On average, equities research analysts anticipate that Tanger will post 2.50 earnings per share for the current year.

Hedge Funds Weigh In On Tanger

A number of large investors have recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in shares of Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 293 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new position in shares of Tanger during the third quarter valued at $35,000. IFP Advisors Inc grew its position in shares of Tanger by 80.5% during the second quarter. IFP Advisors Inc now owns 1,628 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 726 shares during the last quarter. Assetmark Inc. grew its position in shares of Tanger by 32.1% during the first quarter. Assetmark Inc. now owns 2,028 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 493 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Tanger in the 2nd quarter worth about $131,000. Institutional investors own 85.23% of the company’s stock.

Tanger Company Profile

Tanger Inc (NYSE:SKT) is a real estate investment trust that owns, operates and develops open-air shopping centers, primarily outlet centers, in the United States and Canada. Its properties provide retail space for a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and specialty products.

The company generates revenue primarily by leasing retail space to tenants and providing related property-management services. Tanger’s shopping centers are generally located near major highways, tourist destinations and metropolitan areas, where they serve both local shoppers and visiting consumers.

Founded by Stanley Tanger, the company opened its first outlet center in Burlington, North Carolina, in 1981.