Norges Bank Makes New $15.71 Million Investment in Tanger Inc. $SKT

Norges Bank acquired a new position in shares of Tanger Inc. (NYSE:SKT) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 470,700 shares of the real estate investment trust’s stock, valued at approximately $15,707,000. Norges Bank owned 0.41% of Tanger at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKT. EverSource Wealth Advisors LLC grew its stake in shares of Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Tanger during the 3rd quarter worth approximately $33,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Tanger during the 4th quarter worth approximately $34,000. Quarry LP acquired a new stake in shares of Tanger during the 3rd quarter worth approximately $49,000. Finally, Assetmark Inc. grew its stake in shares of Tanger by 235.9% during the 4th quarter. Assetmark Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,078 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SKT shares. Compass Point cut shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a research note on Thursday, February 26th. Scotiabank raised their price objective on shares of Tanger from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Monday, April 20th. Bank of America reaffirmed a “neutral” rating and set a $39.00 price objective on shares of Tanger in a research note on Friday, March 6th. Finally, Evercore set a $37.00 price objective on shares of Tanger in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Tanger currently has a consensus rating of “Hold” and a consensus target price of $37.43.

Tanger Trading Up 6.3%

Shares of NYSE SKT opened at $39.39 on Wednesday. The business’s 50 day moving average is $36.06 and its two-hundred day moving average is $34.79. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. Tanger Inc. has a 1-year low of $29.24 and a 1-year high of $39.61. The stock has a market capitalization of $4.53 billion, a P/E ratio of 36.81, a PEG ratio of 1.76 and a beta of 1.11.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share 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 company had revenue of $150.42 million for the quarter, compared to the consensus estimate of $142.94 million. During the same period in the previous year, the firm earned $0.53 earnings per share. The company’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. As a group, research analysts expect that Tanger Inc. will post 2.46 EPS for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.3125 per share. The ex-dividend date of this dividend was Thursday, April 30th. This is an increase from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 annualized dividend and a yield of 3.2%. Tanger’s payout ratio is presently 116.82%.

About Tanger

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.