Tanger Inc. $SKT Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Tanger Inc. (NYSE:SKT) by 22.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 79,615 shares of the real estate investment trust’s stock after buying an additional 14,825 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tanger were worth $2,705,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. SHP Wealth Management purchased a new stake in shares of Tanger in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings in Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 531 shares during the period. Fifth Third Bancorp grew its position in Tanger by 43.2% in the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 293 shares in the last quarter. Advisory Services Network LLC acquired a new position in Tanger in the 3rd quarter valued at about $33,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Tanger during the fourth quarter worth about $34,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Price Performance

SKT stock opened at $40.22 on Thursday. The business’s 50-day moving average is $38.00 and its two-hundred day moving average is $35.94. 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 $4.62 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.04 and a beta of 1.09. Tanger Inc. has a 1 year low of $29.24 and a 1 year high of $41.50.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). Tanger had a return on equity of 17.53% and a net margin of 20.76%.The company had revenue of $150.42 million for the quarter, compared to analyst estimates of $142.94 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SKT. Evercore set a $39.00 price target on shares of Tanger in a research report on Tuesday, July 7th. LADENBURG THALM/SH SH lifted their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. BMO Capital Markets upped their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Bank of America reiterated an “underperform” rating and set a $38.00 target price on shares of Tanger in a report on Tuesday, June 16th. Finally, Scotiabank raised their price target on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tanger presently has a consensus rating of “Hold” and a consensus target price of $39.70.

Tanger Profile

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.