Public Employees Retirement System of Ohio Invests $5.10 Million in Tanger Inc. $SKT

Public Employees Retirement System of Ohio bought a new position in shares of Tanger Inc. (NYSE:SKT) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 129,156 shares of the real estate investment trust’s stock, valued at approximately $5,098,000.

Other hedge funds have also made changes to their positions in the company. SHP Wealth Management bought a new position in Tanger during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC grew 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 worth $29,000 after buying an additional 531 shares during the last quarter. Fifth Third Bancorp grew 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 worth $33,000 after buying an additional 293 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Tanger during the third quarter worth approximately $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Tanger during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Performance

Shares of Tanger stock 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 has a 50 day simple moving average of $39.69 and a 200 day simple moving average of $37.50. Tanger Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $42.53. The firm has a market cap of $4.33 billion, a P/E ratio of 34.29, a P/E/G ratio of 1.86 and a beta of 1.10.

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

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid 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 of this dividend was Friday, July 31st. Tanger’s dividend payout ratio is 113.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SKT shares. Scotiabank lifted 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. Barclays raised their price target on Tanger from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. UBS Group set a $41.00 price objective on Tanger in a research report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Finally, BMO Capital Markets increased their target price on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a 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 company’s stock. Based on data from MarketBeat, Tanger has an average 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.