Tanger Inc. $SKT is GRS Advisors LLC’s 7th Largest Position

GRS Advisors LLC lifted its holdings in Tanger Inc. (NYSE:SKT) by 98.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,889,097 shares of the real estate investment trust’s stock after purchasing an additional 939,424 shares during the period. Tanger makes up 5.6% of GRS Advisors LLC’s holdings, making the stock its 7th biggest holding. GRS Advisors LLC’s holdings in Tanger were worth $57,769,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SKT. EverSource Wealth Advisors LLC boosted its position in Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 531 shares during the period. Neo Ivy Capital Management increased its position in shares of Tanger by 346.3% during the second quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,018 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Tanger in the second quarter valued at $47,000. Caitong International Asset Management Co. Ltd boosted its holdings in Tanger by 3,451.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,456 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,415 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in Tanger in the second quarter valued at $64,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Trading Up 0.1%

SKT opened at $32.14 on Tuesday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.51 and a current ratio of 0.51. Tanger Inc. has a one year low of $28.69 and a one year high of $36.76. The company has a market cap of $3.70 billion, a P/E ratio of 34.19, a PEG ratio of 1.93 and a beta of 1.06. The business’s 50-day simple moving average is $33.19 and its 200-day simple moving average is $32.29.

Tanger (NYSE:SKT) last posted its earnings results 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 firm had revenue of $145.21 million during the quarter, compared to analysts’ expectations of $139.30 million. Tanger had a return on equity of 15.75% and a net margin of 19.15%.The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. As a group, equities research analysts expect that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $0.2925 dividend. The ex-dividend date was Friday, October 31st. This represents a $1.17 annualized dividend and a dividend yield of 3.6%. Tanger’s dividend payout ratio is presently 124.47%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Evercore ISI upped their target price on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. Citigroup reaffirmed a “neutral” rating and issued a $35.00 target price (down previously from $38.00) on shares of Tanger in a report on Wednesday, November 19th. Barclays lifted their price target on shares of Tanger from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 18th. Finally, LADENBURG THALM/SH SH raised shares of Tanger to a “strong-buy” rating in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tanger has an average rating of “Hold” and a consensus price target of $36.13.

Tanger Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.