Geode Capital Management LLC Purchases 27,201 Shares of Tanger Inc. $SKT

Geode Capital Management LLC raised its position in Tanger Inc. (NYSE:SKT) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,879,693 shares of the real estate investment trust’s stock after purchasing an additional 27,201 shares during the period. Geode Capital Management LLC owned approximately 2.50% of Tanger worth $96,111,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 531 shares in the last quarter. Advisory Services Network LLC bought a new stake in Tanger in the third quarter valued at approximately $33,000. Laurel Wealth Advisors LLC bought a new stake in Tanger in the fourth quarter valued at approximately $34,000. Quarry LP bought a new stake in Tanger in the third quarter valued at approximately $49,000. Finally, Assetmark Inc. increased its stake in Tanger by 235.9% in the fourth quarter. Assetmark Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,078 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Price Performance

NYSE:SKT opened at $37.10 on Friday. The stock has a market capitalization of $4.26 billion, a PE ratio of 34.67, a P/E/G ratio of 1.76 and a beta of 1.11. Tanger Inc. has a 1-year low of $29.24 and a 1-year high of $37.95. The firm has a fifty day simple moving average of $35.88 and a 200 day simple moving average of $34.70. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). Tanger had a return on equity of 17.53% and a net margin of 20.76%.The firm had revenue of $150.42 million for the quarter, compared to the consensus estimate of $142.94 million. During the same period last year, the company posted $0.53 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, research analysts expect that Tanger Inc. will post 2.46 EPS for the current fiscal year.

Tanger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 3.4%. This is an increase from Tanger’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, April 30th. Tanger’s payout ratio is currently 116.82%.

Analyst Upgrades and Downgrades

SKT has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Monday, April 20th. Barclays upped their price target on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Scotiabank upped their price target on shares of Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Bank of America reiterated a “neutral” rating and issued a $39.00 price target on shares of Tanger in a report on Friday, March 6th. Finally, Compass Point lowered shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.43.

Tanger Company 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.