Inspire Investing LLC Grows Stock Position in Tanger Inc. $SKT

Inspire Investing LLC boosted its stake in Tanger Inc. (NYSE:SKT) by 26.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,852 shares of the real estate investment trust’s stock after acquiring an additional 2,682 shares during the quarter. Inspire Investing LLC’s holdings in Tanger were worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nissay Asset Management Corp Japan ADV grew its position in shares of Tanger by 2.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 16,664 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 385 shares in the last quarter. Xponance Inc. increased its stake in shares of Tanger by 6.7% in the first quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 514 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Tanger by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 52,900 shares of the real estate investment trust’s stock worth $1,618,000 after buying an additional 800 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Tanger by 2.9% in the second quarter. Maryland State Retirement & Pension System now owns 33,260 shares of the real estate investment trust’s stock worth $1,017,000 after buying an additional 938 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Tanger by 4.4% in the first quarter. Cetera Investment Advisers now owns 22,807 shares of the real estate investment trust’s stock worth $771,000 after buying an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SKT. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, October 8th. Barclays raised their price objective on Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Evercore ISI raised their price objective on Tanger from $33.00 to $35.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. LADENBURG THALM/SH SH assumed coverage on Tanger in a research note on Friday, July 18th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Wall Street Zen upgraded Tanger from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Tanger Price Performance

Shares of NYSE SKT opened at $32.54 on Tuesday. Tanger Inc. has a 1-year low of $28.69 and a 1-year high of $37.57. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11. The business’s fifty day moving average price is $33.32 and its two-hundred day moving average price is $31.73. The firm has a market capitalization of $3.68 billion, a PE ratio of 36.98, a P/E/G ratio of 2.05 and a beta of 1.36.

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

Insiders Place Their Bets

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

Tanger 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.