New York State Teachers Retirement System Has $5.10 Million Holdings in Tanger Inc. $SKT

New York State Teachers Retirement System cut its stake in Tanger Inc. (NYSE:SKT) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,768 shares of the real estate investment trust’s stock after selling 21,929 shares during the period. New York State Teachers Retirement System’s holdings in Tanger were worth $5,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Tanger by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock worth $598,979,000 after purchasing an additional 789,935 shares during the period. State Street Corp boosted its stake in Tanger by 3.4% in the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock worth $202,924,000 after purchasing an additional 215,174 shares during the period. Invesco Ltd. boosted its stake in Tanger by 13.0% in the 3rd quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock worth $77,870,000 after purchasing an additional 264,408 shares during the period. Wellington Management Group LLP boosted its stake in Tanger by 18.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,182,273 shares of the real estate investment trust’s stock worth $73,848,000 after purchasing an additional 332,387 shares during the period. Finally, Northern Trust Corp boosted its stake in Tanger by 1.6% in the 3rd quarter. Northern Trust Corp now owns 1,972,814 shares of the real estate investment trust’s stock worth $66,760,000 after purchasing an additional 30,508 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America reaffirmed a “neutral” rating and issued a $39.00 target price on shares of Tanger in a research note on Friday, March 6th. Barclays upped their target price on shares of Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Thursday, February 26th. Evercore set a $37.00 price objective on shares of Tanger in a research note on Friday, May 1st. Finally, Scotiabank increased their price objective on shares of Tanger from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Tanger currently has a consensus rating of “Hold” and a consensus target price of $36.86.

Tanger Trading Up 1.7%

Tanger stock opened at $36.83 on Thursday. The firm has a 50-day moving average of $35.87 and a 200-day moving average of $34.33. Tanger Inc. has a one year low of $28.69 and a one year high of $37.95. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 0.40. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 34.42, a P/E/G ratio of 1.72 and a beta of 1.14.

Tanger (NYSE:SKT) last posted 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 business had revenue of $150.42 million for the quarter, compared to analyst estimates of $142.94 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’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. On average, equities analysts expect that Tanger Inc. will post 2.46 earnings per share for the current fiscal year.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be paid a dividend of $0.3125 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.25 annualized dividend and a dividend yield of 3.4%. This is a boost from Tanger’s previous quarterly dividend of $0.29. 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.