Louisiana State Employees Retirement System Acquires New Stake in Tanger Inc. $SKT

Louisiana State Employees Retirement System acquired a new position in shares of Tanger Inc. (NYSE:SKT) in the first quarter, HoldingsChannel reports. The firm acquired 51,000 shares of the real estate investment trust’s stock, valued at approximately $1,733,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Freestone Grove Partners LP boosted its stake in shares of Tanger by 6,634.5% during the 4th quarter. Freestone Grove Partners LP now owns 1,184,674 shares of the real estate investment trust’s stock worth $39,533,000 after purchasing an additional 1,167,083 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in shares of Tanger by 2,190.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock valued at $28,181,000 after buying an additional 796,411 shares during the period. Vanguard Group Inc. boosted its position in 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 acquiring an additional 789,935 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Tanger during the fourth quarter worth approximately $25,364,000. Finally, American Century Companies Inc. grew its stake in Tanger by 1,459.4% in the 3rd quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock worth $26,662,000 after acquiring an additional 737,354 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Trading Down 0.6%

SKT stock opened at $39.23 on Thursday. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.02 and a beta of 1.09. The business has a fifty day simple moving average of $37.42 and a 200-day simple moving average of $35.56. Tanger Inc. has a 52 week low of $29.24 and a 52 week high of $41.50.

Tanger (NYSE:SKT) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) 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%. Tanger’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities research analysts expect that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, April 30th. This is an increase from Tanger’s previous quarterly dividend of $0.29. Tanger’s dividend payout ratio (DPR) is presently 116.82%.

Analysts Set New Price Targets

Several research analysts have weighed in on SKT shares. LADENBURG THALM/SH SH boosted their price target on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Barclays upped their target price on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Bank of America reiterated an “underperform” rating and set a $38.00 target price on shares of Tanger in a research report on Tuesday, June 16th. BMO Capital Markets lifted their price target on Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Two investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.50.

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.