State of Alaska Department of Revenue Sells 20,202 Shares of Tanger Inc. $SKT

State of Alaska Department of Revenue lowered its holdings in Tanger Inc. (NYSE:SKT) by 20.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,981 shares of the real estate investment trust’s stock after selling 20,202 shares during the period. State of Alaska Department of Revenue’s holdings in Tanger were worth $2,740,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SHP Wealth Management acquired a new stake in Tanger during the fourth quarter valued at approximately $25,000. Fifth Third Bancorp boosted its holdings in Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 293 shares in the last quarter. CENTRAL TRUST Co bought a new stake in Tanger during the first quarter worth approximately $54,000. IFP Advisors Inc boosted its holdings in Tanger by 80.5% during the second quarter. IFP Advisors Inc now owns 1,628 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 726 shares in the last quarter. Finally, Assetmark Inc. grew its position in Tanger by 32.1% in the first quarter. Assetmark Inc. now owns 2,028 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 493 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Price Performance

SKT stock opened at $35.43 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65. Tanger Inc. has a one year low of $31.13 and a one year high of $42.53. The firm has a market capitalization of $4.07 billion, a PE ratio of 32.21, a P/E/G ratio of 1.74 and a beta of 1.12. The firm has a 50-day moving average of $36.51 and a two-hundred day moving average of $37.50.

Tanger (NYSE:SKT) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The company had revenue of $156.39 million during the quarter, compared to analysts’ expectations of $142.58 million. During the same period last year, the company posted $0.58 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. On average, analysts forecast that Tanger Inc. will post 2.50 earnings per share for the current year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.5%. Tanger’s dividend payout ratio is 113.64%.

Analysts Set New Price Targets

SKT has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Thursday. Barclays cut their price objective on Tanger from $42.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. JPMorgan Chase & Co. lowered Tanger from an “overweight” rating to a “neutral” rating and set a $39.00 price objective for the company. in a research note on Thursday, September 24th. The Goldman Sachs Group set a $40.00 price objective on Tanger in a research note on Wednesday, October 7th. Finally, Evercore set a $39.00 target price on Tanger in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.17.

Tanger Company Profile

Tanger Inc is a real estate investment trust that owns, operates and develops open-air outlet shopping centers. The company leases retail space to a broad range of brand-name and designer retailers, including apparel, footwear, accessories, home goods and other consumer-oriented businesses.

Founded in 1981 by Stanley K. Tanger, the company helped establish the outlet-center format in the United States. Tanger’s properties are designed to serve both local shoppers and tourists, with tenants offering merchandise through outlet and value-oriented retail concepts.

Tanger serves markets across the United States and Canada through a portfolio of outlet centers located near major metropolitan areas, tourist destinations and highway corridors.