Tanger Inc. $SKT Stake Cut by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Tanger Inc. (NYSE:SKT) by 21.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 209,869 shares of the real estate investment trust’s stock after selling 58,734 shares during the quarter. Hsbc Holdings PLC’s holdings in Tanger were worth $7,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Tanger by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock worth $598,979,000 after purchasing an additional 789,935 shares during the period. State Street Corp increased its stake in Tanger by 3.4% in the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock valued at $202,924,000 after buying an additional 215,174 shares during the period. Geode Capital Management LLC lifted its position in Tanger by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock worth $96,111,000 after buying an additional 27,201 shares in the last quarter. Wellington Management Group LLP lifted its position in Tanger by 11.3% in the 4th quarter. Wellington Management Group LLP now owns 2,427,912 shares of the real estate investment trust’s stock worth $81,019,000 after buying an additional 245,639 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Tanger by 13.0% during the 3rd quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock valued at $77,870,000 after buying an additional 264,408 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

SKT has been the topic of several research analyst reports. Scotiabank boosted their price target on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Bank of America reiterated an “underperform” rating and set a $38.00 price objective on shares of Tanger in a report on Tuesday, June 16th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. Barclays raised their price target on Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, BMO Capital Markets increased their price objective on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Two 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. According to data from MarketBeat.com, Tanger currently has an average rating of “Hold” and an average price target of $39.70.

Tanger Stock Performance

NYSE:SKT opened at $41.08 on Friday. The firm has a market capitalization of $4.72 billion, a PE ratio of 38.39, a PEG ratio of 2.12 and a beta of 1.09. 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 Inc. has a 1 year low of $29.24 and a 1 year high of $42.05. The firm’s fifty day simple moving average is $38.67 and its 200 day simple moving average is $36.28.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). Tanger had a return on equity of 17.53% and a net margin of 20.76%.The business had revenue of $150.42 million during the quarter, compared to the consensus estimate of $142.94 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, sell-side analysts anticipate that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.3125 per share. The ex-dividend date is Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.0%. 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.