Tanger Inc. $SKT Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in shares of Tanger Inc. (NYSE:SKT) by 25.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 783,777 shares of the real estate investment trust’s stock after purchasing an additional 158,376 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Tanger were worth $26,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Tanger by 3.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,338 shares of the real estate investment trust’s stock valued at $879,000 after purchasing an additional 800 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Tanger by 3.9% during the 4th quarter. First Eagle Investment Management LLC now owns 179,769 shares of the real estate investment trust’s stock worth $5,999,000 after buying an additional 6,800 shares during the period. Swiss Life Asset Management Ltd acquired a new stake in Tanger during the 4th quarter worth about $354,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Tanger by 7.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 90,844 shares of the real estate investment trust’s stock worth $3,008,000 after buying an additional 6,149 shares during the period. Finally, Horizon Investments LLC raised its holdings in Tanger by 28.2% during the 4th quarter. Horizon Investments LLC now owns 21,435 shares of the real estate investment trust’s stock worth $715,000 after buying an additional 4,714 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Down 0.1%

Shares of SKT stock opened at $35.23 on Monday. The stock has a 50 day moving average of $35.70 and a 200-day moving average of $34.47. The firm has a market cap of $4.05 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $37.95. 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 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 the consensus estimate of $0.28 by ($0.04). The firm had revenue of $150.42 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities analysts predict that Tanger Inc. will post 2.46 EPS for the current year.

Tanger Increases Dividend

The business 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. The ex-dividend date of this dividend was Thursday, April 30th. This is a positive change from Tanger’s previous quarterly dividend of $0.29. This represents a $1.25 annualized dividend and a yield of 3.5%. Tanger’s payout ratio is currently 116.82%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SKT. Compass Point downgraded Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a report on Thursday, February 26th. Scotiabank lifted their target price on Tanger from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 24th. Bank of America reaffirmed a “neutral” rating and set a $39.00 target price on shares of Tanger in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Monday, April 20th. Finally, Evercore set a $37.00 target price on Tanger in a research note on Friday, May 1st. One investment 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, Tanger presently has an average rating of “Hold” and a consensus target price of $37.29.

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.