236,024 Shares in Tanger Inc. $SKT Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in shares of Tanger Inc. (NYSE:SKT) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 236,024 shares of the real estate investment trust’s stock, valued at approximately $9,321,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SKT. BlackRock Inc. increased its stake in Tanger by 7.7% in the 2nd quarter. BlackRock Inc. now owns 22,211,493 shares of the real estate investment trust’s stock worth $876,688,000 after acquiring an additional 1,582,006 shares during the last quarter. Freestone Grove Partners LP boosted its position 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 valued at $39,533,000 after acquiring an additional 1,167,083 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Tanger during the 2nd quarter valued at about $31,684,000. Schonfeld Strategic Advisors LLC grew its holdings 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 worth $28,181,000 after purchasing an additional 796,411 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 789,935 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on SKT. Bank of America reaffirmed an “underperform” rating and issued a $38.00 target price on shares of Tanger in a research note on Tuesday, June 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. Scotiabank increased their price target on shares of Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. LADENBURG THALM/SH SH raised their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, UBS Group set a $41.00 price objective on shares of Tanger in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.40.

Tanger Price Performance

Shares of Tanger stock opened at $37.73 on Friday. The firm has a market capitalization of $4.33 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 2.65. Tanger Inc. has a 12 month low of $31.13 and a 12 month high of $42.53. The business’s 50-day moving average price is $39.82 and its 200-day moving average price is $37.39.

Tanger (NYSE:SKT) last released its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $156.39 million during the quarter, compared to the consensus estimate of $142.58 million. Tanger had a return on equity of 17.72% and a net margin of 20.74%.Tanger’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Sell-side analysts forecast that Tanger Inc. will post 2.48 EPS for the current fiscal year.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.3%. Tanger’s dividend payout ratio (DPR) is 113.64%.

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.