State of New Jersey Common Pension Fund D Makes New Investment in Tanger Inc. $SKT

State of New Jersey Common Pension Fund D acquired a new stake in shares of Tanger Inc. (NYSE:SKT) during the fourth quarter, Holdings Channel reports. The firm acquired 25,000 shares of the real estate investment trust’s stock, valued at approximately $834,000.

Other large investors also recently modified their holdings of the company. Truist Financial Corp boosted its stake in Tanger by 736.7% in the 3rd quarter. Truist Financial Corp now owns 61,533 shares of the real estate investment trust’s stock valued at $2,082,000 after buying an additional 54,179 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Tanger by 31.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 154,759 shares of the real estate investment trust’s stock worth $5,124,000 after acquiring an additional 37,163 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Tanger by 1,459.4% during the third quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock valued at $26,662,000 after acquiring an additional 737,354 shares during the period. Oliver Luxxe Assets LLC bought a new position in shares of Tanger during the third quarter valued at $1,867,000. Finally, Elo Mutual Pension Insurance Co boosted its stake in shares of Tanger by 131.6% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 35,714 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 20,292 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SKT has been the topic of several research analyst reports. Scotiabank upped their price objective on shares of Tanger from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. Compass Point downgraded Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a report on Thursday, February 26th. Barclays increased their price target on Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Evercore set a $37.00 price target on Tanger in a report on Friday, May 1st. Finally, Bank of America reiterated a “neutral” rating and issued a $39.00 price objective on shares of Tanger in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.86.

Tanger Price Performance

Shares of SKT stock opened at $36.04 on Tuesday. The firm’s 50 day moving average price is $35.83 and its two-hundred day moving average price is $34.40. The company has a debt-to-equity ratio of 2.67, a quick ratio of 3.36 and a current ratio of 3.36. Tanger Inc. has a 52-week low of $28.69 and a 52-week high of $37.95. The stock has a market cap of $4.14 billion, a PE ratio of 33.69, a PEG ratio of 1.73 and a beta of 1.14.

Tanger (NYSE:SKT) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.04). Tanger had a return on equity of 17.53% and a net margin of 20.76%.The firm had revenue of $150.42 million for the quarter, compared to the consensus estimate of $142.94 million. During the same period in the previous year, the business earned $0.53 EPS. The firm’s 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. As a group, analysts forecast that Tanger Inc. will post 2.46 EPS for the current year.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This is a positive change from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a yield of 3.5%. Tanger’s payout ratio is presently 116.82%.

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.