Nicholas Investment Partners LP Has $15.04 Million Holdings in Tanger Inc. $SKT

Nicholas Investment Partners LP boosted its stake in Tanger Inc. (NYSE:SKT) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 450,672 shares of the real estate investment trust’s stock after purchasing an additional 17,081 shares during the quarter. Tanger comprises 1.1% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 23rd biggest position. Nicholas Investment Partners LP owned 0.39% of Tanger worth $15,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Tanger by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock valued at $598,979,000 after purchasing an additional 789,935 shares in the last quarter. State Street Corp raised its stake in Tanger by 3.4% during the second quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock worth $202,924,000 after acquiring an additional 215,174 shares in the last quarter. Geode Capital Management LLC raised its stake in Tanger by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock worth $96,111,000 after acquiring an additional 27,201 shares in the last quarter. Invesco Ltd. raised its stake in Tanger by 13.0% during the third quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock worth $77,870,000 after acquiring an additional 264,408 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Tanger by 18.0% during the third quarter. Wellington Management Group LLP now owns 2,182,273 shares of the real estate investment trust’s stock worth $73,848,000 after acquiring an additional 332,387 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Performance

Tanger stock opened at $40.40 on Friday. The business has a 50 day moving average of $36.42 and a 200-day moving average of $34.92. Tanger Inc. has a 1 year low of $29.24 and a 1 year high of $40.56. The company has a debt-to-equity ratio of 2.67, a current ratio of 3.36 and a quick ratio of 3.36. The company has a market capitalization of $4.64 billion, a P/E ratio of 37.76, a P/E/G ratio of 1.92 and a beta of 1.11.

Tanger (NYSE:SKT) last released its quarterly earnings data 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 net margin of 20.76% and a return on equity of 17.53%. The firm had revenue of $150.42 million during the quarter, compared to analyst estimates of $142.94 million. During the same period in the prior year, the company earned $0.53 EPS. The business’s quarterly 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, equities research analysts predict that Tanger Inc. will post 2.46 earnings per share for the current year.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a $0.3125 dividend. This is an increase from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, April 30th. Tanger’s payout ratio is currently 116.82%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays boosted their target price on Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. LADENBURG THALM/SH SH boosted their target price on Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a research note on Monday, April 20th. Bank of America reissued a “neutral” rating and set a $39.00 target price on shares of Tanger in a research note on Friday, March 6th. Finally, Scotiabank boosted their target price on Tanger from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.43.

Tanger 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.