The Manufacturers Life Insurance Company Makes New $2.14 Million Investment in Tanger Inc. $SKT

The Manufacturers Life Insurance Company acquired a new stake in Tanger Inc. (NYSE:SKT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 54,328 shares of the real estate investment trust’s stock, valued at approximately $2,144,000.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its holdings in Tanger by 28.8% in the 4th quarter. Hsbc Holdings PLC now owns 268,603 shares of the real estate investment trust’s stock worth $8,987,000 after buying an additional 60,035 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Tanger by 25.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 783,777 shares of the real estate investment trust’s stock valued at $26,155,000 after acquiring an additional 158,376 shares in the last quarter. Vise Technologies Inc. purchased a new stake in Tanger in the second quarter worth $1,253,000. Bank of America Corp DE boosted its holdings in Tanger by 27.8% in the first quarter. Bank of America Corp DE now owns 446,687 shares of the real estate investment trust’s stock valued at $15,178,000 after acquiring an additional 97,100 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Tanger by 347.5% in the first quarter. Quantinno Capital Management LP now owns 70,610 shares of the real estate investment trust’s stock valued at $2,399,000 after acquiring an additional 54,831 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Stock Down 0.8%

NYSE:SKT opened at $37.72 on Thursday. 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’s 50-day moving average price is $39.69 and its 200-day moving average price is $37.50. The company has a market capitalization of $4.33 billion, a PE ratio of 34.29, a P/E/G ratio of 1.86 and a beta of 1.10. Tanger Inc. has a 1-year low of $31.13 and a 1-year high of $42.53.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The company had revenue of $156.39 million during the quarter, compared to analysts’ expectations of $142.58 million. During the same period last year, the company posted $0.58 EPS. Tanger’s revenue was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. On average, equities analysts predict that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Announces Dividend

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

Wall Street Analyst Weigh In

SKT has been the subject of several research analyst reports. BMO Capital Markets raised their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Friday, July 17th. Barclays increased their price target on shares of Tanger from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Scotiabank lifted their price objective on Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Finally, Citigroup upped their target price on Tanger from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.40.

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.