430,134 Shares in Tanger Inc. $SKT Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP bought a new position in Tanger Inc. (NYSE:SKT) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 430,134 shares of the real estate investment trust’s stock, valued at approximately $16,977,000.

Several other institutional investors have also recently added to or reduced their stakes in SKT. Legal & General Group Plc bought a new position in shares of Tanger during the 2nd quarter worth approximately $31,684,000. The Manufacturers Life Insurance Company bought a new stake in shares of Tanger in the 2nd quarter valued at $2,144,000. Algert Global LLC acquired a new position in shares of Tanger during the 2nd quarter valued at $2,440,000. Sanctuary Advisors LLC acquired a new position in shares of Tanger during the 2nd quarter valued at $203,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Tanger during the 2nd quarter valued at $220,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. Evercore set a $39.00 price objective on shares of Tanger in a report on Tuesday, July 7th. Bank of America reissued an “underperform” rating and set a $38.00 price objective on shares of Tanger in a research report on Tuesday, June 16th. LADENBURG THALM/SH SH raised their target price on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, BMO Capital Markets boosted their target price on Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.40.

Tanger Stock Performance

Shares of SKT stock opened at $38.91 on Tuesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a 50-day moving average of $39.92 and a 200-day moving average of $37.28. Tanger Inc. has a one year low of $31.13 and a one year high of $42.53. The company has a market cap of $4.47 billion, a P/E ratio of 35.37, a P/E/G ratio of 1.87 and a beta of 1.10.

Tanger (NYSE:SKT) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The business had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $142.58 million. During the same period in the previous year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Equities research analysts forecast that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.2%. Tanger’s dividend payout ratio (DPR) is currently 113.64%.

Tanger Company 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.