Thrivent Financial for Lutherans Has $21.16 Million Holdings in Tanger Inc. $SKT

Thrivent Financial for Lutherans decreased its holdings in Tanger Inc. (NYSE:SKT) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 625,401 shares of the real estate investment trust’s stock after selling 96,877 shares during the quarter. Thrivent Financial for Lutherans owned 0.55% of Tanger worth $21,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKT. State Street Corp lifted its holdings in shares of Tanger by 3.4% in the second quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock valued at $202,924,000 after purchasing an additional 215,174 shares in the last quarter. Geode Capital Management LLC raised its position in Tanger by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,841,121 shares of the real estate investment trust’s stock valued at $86,892,000 after buying an additional 65,599 shares during the last quarter. Invesco Ltd. lifted its stake in Tanger by 127.0% during the 2nd quarter. Invesco Ltd. now owns 2,036,716 shares of the real estate investment trust’s stock valued at $62,283,000 after acquiring an additional 1,139,288 shares in the last quarter. GRS Advisors LLC lifted its stake in Tanger by 98.9% during the 2nd quarter. GRS Advisors LLC now owns 1,889,097 shares of the real estate investment trust’s stock valued at $57,769,000 after acquiring an additional 939,424 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Tanger by 6.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,007,663 shares of the real estate investment trust’s stock worth $30,814,000 after acquiring an additional 62,070 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SKT shares. Barclays reiterated a “positive” rating and issued a $36.00 target price on shares of Tanger in a report on Tuesday, January 13th. LADENBURG THALM/SH SH upgraded shares of Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. Evercore ISI lifted their target price on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Wednesday, January 21st. Finally, Citigroup reaffirmed a “neutral” rating and set a $35.00 price target (down from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Tanger Stock Performance

NYSE:SKT opened at $31.59 on Wednesday. The company has a market capitalization of $3.64 billion, a P/E ratio of 33.61, a P/E/G ratio of 1.41 and a beta of 1.18. The business has a fifty day simple moving average of $33.39 and a two-hundred day simple moving average of $33.15. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.51 and a quick ratio of 0.51. Tanger Inc. has a 1 year low of $28.69 and a 1 year high of $36.76.

Tanger (NYSE:SKT) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Tanger had a return on equity of 15.75% and a net margin of 19.15%.The company had revenue of $145.21 million during the quarter, compared to the consensus estimate of $139.30 million. During the same quarter in the prior year, the company earned $0.54 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts expect that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a $0.2925 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $1.17 annualized dividend and a dividend yield of 3.7%. Tanger’s payout ratio is 124.47%.

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.