Tanger (NYSE:SKT) Releases Earnings Results, Beats Expectations By $0.02 EPS

Tanger (NYSE:SKT) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02, Zacks reports. Tanger had a return on equity of 15.45% and a net margin of 18.22%. Tanger updated its FY 2025 guidance to 2.280-2.320 EPS.

Tanger Price Performance

SKT traded up $0.89 during midday trading on Tuesday, reaching $33.67. 1,692,801 shares of the company’s stock were exchanged, compared to its average volume of 929,988. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 38.26, a price-to-earnings-growth ratio of 2.13 and a beta of 1.36. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.31. Tanger has a one year low of $28.69 and a one year high of $37.57. The business has a 50-day simple moving average of $33.42 and a two-hundred day simple moving average of $31.84.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, October 31st. Tanger’s dividend payout ratio (DPR) is presently 132.95%.

Insider Buying and Selling

In other Tanger news, EVP Gallardo Leslie Swanson sold 17,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $34.74, for a total transaction of $607,950.00. Following the completion of the transaction, the executive vice president owned 92,665 shares in the company, valued at $3,219,182.10. This trade represents a 15.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SKT. Royal Bank of Canada raised its stake in shares of Tanger by 2.8% in the first quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock valued at $4,905,000 after acquiring an additional 3,995 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Tanger by 17.8% in the first quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock valued at $1,291,000 after purchasing an additional 5,765 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tanger by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock valued at $2,171,000 after purchasing an additional 3,631 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Tanger in the first quarter valued at approximately $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Tanger by 436.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock valued at $27,073,000 after purchasing an additional 651,961 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SKT. Evercore ISI increased their target price on Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a report on Friday, October 17th. LADENBURG THALM/SH SH began coverage on Tanger in a report on Friday, July 18th. They issued a “buy” rating and a $35.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Barclays increased their target price on Tanger from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Finally, Wall Street Zen raised shares of Tanger from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tanger presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.