Nomura Asset Management Co. Ltd. Purchases 6,700 Shares of Tanger Inc. $SKT

Nomura Asset Management Co. Ltd. raised its holdings in shares of Tanger Inc. (NYSE:SKT) by 4.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 157,870 shares of the real estate investment trust’s stock after acquiring an additional 6,700 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Tanger were worth $4,828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Atlantic Union Bankshares Corp bought a new position in Tanger in the 2nd quarter worth approximately $47,000. Caitong International Asset Management Co. Ltd grew its position in shares of Tanger by 3,451.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,415 shares in the last quarter. Quarry LP raised its stake in shares of Tanger by 2,296.1% during the 1st quarter. Quarry LP now owns 3,043 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 2,916 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Tanger by 8,500.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,300 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 4,250 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Tanger during the 2nd quarter worth about $166,000. Institutional investors own 85.23% of the company’s stock.

Insider Transactions at Tanger

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

Analyst Ratings Changes

A number of research analysts have weighed in on SKT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Wall Street Zen raised shares of Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Citigroup reaffirmed a “neutral” rating and set a $35.00 price objective (down previously from $38.00) on shares of Tanger in a research note on Wednesday. Barclays upped their target price on shares of Tanger from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Evercore ISI raised their price objective on shares of Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.13.

Tanger Stock Performance

Shares of Tanger stock opened at $33.44 on Friday. The firm has a market capitalization of $3.85 billion, a P/E ratio of 38.00, a P/E/G ratio of 2.13 and a beta of 1.37. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $37.57. The business has a fifty day simple moving average of $33.29 and a two-hundred day simple moving average of $32.07.

Tanger (NYSE:SKT) last announced its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Tanger had a net margin of 18.22% and a return on equity of 15.45%. The business had revenue of $145.21 million during the quarter, compared to the consensus estimate of $139.30 million. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. On average, equities analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, October 31st. Tanger’s dividend payout ratio (DPR) is currently 124.47%.

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.