SG Americas Securities LLC Buys Shares of 35,991 Tanger Inc. $SKT

SG Americas Securities LLC purchased a new position in Tanger Inc. (NYSE:SKT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 35,991 shares of the real estate investment trust’s stock, valued at approximately $1,218,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Salomon & Ludwin LLC bought a new stake in shares of Tanger during the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 531 shares during the period. City Holding Co. bought a new position in shares of Tanger during the third quarter valued at approximately $34,000. Neo Ivy Capital Management raised its position in shares of Tanger by 346.3% during the 2nd quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,018 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Tanger during the 2nd quarter worth approximately $47,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SKT has been the subject of a number of analyst reports. LADENBURG THALM/SH SH upgraded Tanger to a “strong-buy” rating in a research report on Thursday, November 20th. Evercore ISI raised their target price on Tanger from $35.00 to $36.00 and gave the company an “in-line” rating in a research note on Friday, October 17th. Citigroup restated a “neutral” rating and set a $35.00 price target (down previously from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. Scotiabank increased their price objective on shares of Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Barclays reissued a “positive” rating and set a $36.00 target price on shares of Tanger in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Tanger Price Performance

Shares of SKT opened at $33.63 on Friday. Tanger Inc. has a one year low of $28.69 and a one year high of $36.76. The stock’s fifty day moving average is $33.60 and its 200-day moving average is $33.06. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 35.77, a price-to-earnings-growth ratio of 1.87 and a beta of 1.06.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $145.21 million during the quarter, compared to the consensus estimate of $139.30 million. Tanger had a net margin of 19.15% and a return on equity of 15.75%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. Equities analysts anticipate that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, January 30th. Tanger’s dividend payout ratio (DPR) is currently 124.47%.

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.