Jupiter Topco LLC Makes New Investment in Tanger Inc. $SKT

Jupiter Topco LLC purchased a new stake in Tanger Inc. (NYSE:SKT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 859,700 shares of the real estate investment trust’s stock, valued at approximately $33,960,000.

A number of other hedge funds have also recently made changes to their positions in the company. SHP Wealth Management bought a new position in shares of Tanger in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC boosted its stake in Tanger by 127.3% during the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 531 shares during the period. Fifth Third Bancorp boosted its stake in Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 293 shares during the period. Advisory Services Network LLC purchased a new position in Tanger during the third quarter worth about $33,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Tanger during the fourth quarter worth about $34,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SKT has been the topic of a number of research analyst reports. Citigroup upped their target price on Tanger from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. UBS Group set a $41.00 price objective on Tanger in a report on Thursday, June 18th. Barclays boosted their price objective on Tanger from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, August 17th. Scotiabank raised their target price on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research note on Thursday, June 18th. Finally, BMO Capital Markets lifted their target price on shares of Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tanger presently has a consensus rating of “Hold” and a consensus target price of $40.40.

Tanger Stock Up 0.2%

Shares of NYSE:SKT opened at $37.73 on Friday. The firm has a market capitalization of $4.33 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12. Tanger Inc. has a 52-week low of $31.13 and a 52-week high of $42.53. The firm has a fifty day moving average of $39.82 and a 200 day moving average of $37.39.

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, beating analysts’ consensus estimates of $0.25 by $0.04. Tanger had a return on equity of 17.72% and a net margin of 20.74%.The business had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. During the same quarter last year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. As a group, research analysts anticipate that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.3125 per share. The ex-dividend date was Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.3%. Tanger’s dividend payout ratio is 113.64%.

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.