Tanger Inc. $SKT Stake Raised by Legato Capital Management LLC

Legato Capital Management LLC raised its holdings in Tanger Inc. (NYSE:SKT) by 41.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 84,233 shares of the real estate investment trust’s stock after acquiring an additional 24,644 shares during the period. Legato Capital Management LLC’s holdings in Tanger were worth $2,811,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its stake in Tanger by 5.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 306 shares during the period. M&T Bank Corp raised its position in Tanger by 3.3% during the second quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock valued at $314,000 after buying an additional 326 shares during the period. Smartleaf Asset Management LLC lifted its stake in Tanger by 11.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,185 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 330 shares in the last quarter. GAMMA Investing LLC lifted its stake in Tanger by 13.2% in the 4th quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock worth $95,000 after acquiring an additional 332 shares in the last quarter. Finally, M&G PLC boosted its position in Tanger by 5.6% during the 3rd quarter. M&G PLC now owns 6,435 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 340 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SKT shares. Bank of America reaffirmed a “neutral” rating and set a $39.00 target price on shares of Tanger in a research note on Friday, March 6th. Barclays raised their price target on shares of Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Evercore set a $37.00 price objective on shares of Tanger in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research note on Monday, April 20th. Finally, Scotiabank increased their target price on shares of Tanger from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Tanger presently has a consensus rating of “Hold” and an average price target of $37.43.

Tanger Stock Performance

SKT stock opened at $35.47 on Friday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 33.15, a P/E/G ratio of 1.70 and a beta of 1.14. The firm has a 50 day moving average of $35.65 and a two-hundred day moving average of $34.55. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $37.95.

Tanger (NYSE:SKT) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). The business had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, equities analysts anticipate that Tanger Inc. will post 2.46 EPS for the current fiscal year.

Tanger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.3125 per share. This is a boost from Tanger’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, April 30th. This represents a $1.25 annualized dividend and a dividend yield of 3.5%. Tanger’s dividend payout ratio is currently 116.82%.

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.