Fisher Asset Management LLC Sells 32,626 Shares of Tanger Inc. $SKT

Fisher Asset Management LLC decreased its position in shares of Tanger Inc. (NYSE:SKT) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 459,942 shares of the real estate investment trust’s stock after selling 32,626 shares during the quarter. Fisher Asset Management LLC’s holdings in Tanger were worth $15,348,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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 acquiring an additional 531 shares during the period. Advisory Services Network LLC bought a new position in Tanger in the 3rd quarter worth about $33,000. Laurel Wealth Advisors LLC bought a new position in Tanger in the 4th quarter worth about $34,000. Quarry LP bought a new position in Tanger in the 3rd quarter worth about $49,000. Finally, Assetmark Inc. boosted its stake in Tanger by 235.9% in 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 own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Scotiabank raised 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. Barclays raised 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. Evercore set a $37.00 target price on Tanger in a research note on Friday, May 1st. Bank of America restated a “neutral” rating and issued a $39.00 target price on shares of Tanger in a research note on Friday, March 6th. Finally, Compass Point downgraded Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Tanger currently has a consensus rating of “Hold” and a consensus price target of $37.43.

Tanger Stock Performance

NYSE:SKT opened at $35.96 on Thursday. The business’s 50-day moving average price is $35.67 and its two-hundred day moving average price is $34.61. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $37.95. The stock has a market cap of $4.13 billion, a P/E ratio of 33.60, a PEG ratio of 1.70 and a beta of 1.14. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The firm had revenue of $150.42 million for the quarter, compared to analysts’ expectations of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. As a group, equities analysts predict that Tanger Inc. will post 2.46 EPS for the current fiscal year.

Tanger Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders 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 yield of 3.5%. The ex-dividend date of this dividend was Thursday, April 30th. Tanger’s payout ratio is currently 116.82%.

Tanger Company 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.