Tanger Inc. $SKT Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC raised its stake in shares of Tanger Inc. (NYSE:SKT) by 41.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,233 shares of the real estate investment trust’s stock after acquiring an additional 24,644 shares during the quarter. Legato Capital Management LLC owned approximately 0.07% of Tanger worth $2,811,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC boosted its position in Tanger by 2,190.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock valued at $28,181,000 after purchasing an additional 796,411 shares during the period. Vanguard Group Inc. increased its position in Tanger by 4.6% in 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 buying an additional 789,935 shares during the period. American Century Companies Inc. lifted its stake in Tanger by 1,459.4% in 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 buying an additional 737,354 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its stake in Tanger by 6,186.3% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 721,599 shares of the real estate investment trust’s stock valued at $24,419,000 after buying an additional 710,120 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Tanger by 436.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock valued at $27,073,000 after acquiring an additional 651,961 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Stock Performance

Shares of SKT opened at $35.47 on Friday. The firm has a 50-day moving average price of $35.65 and a 200 day moving average price of $34.55. The firm has a market capitalization of $4.07 billion, a PE ratio of 33.15, a P/E/G ratio of 1.70 and a beta of 1.14. 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 Inc. has a 52-week low of $28.69 and a 52-week high of $37.95.

Tanger (NYSE:SKT) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The company had revenue of $150.42 million for the quarter, compared to the consensus estimate of $142.94 million. Tanger had a return on equity of 17.53% and a net margin of 20.76%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, sell-side analysts anticipate that Tanger Inc. will post 2.46 earnings per share for the current fiscal year.

Tanger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, April 30th. This is an increase from Tanger’s previous quarterly dividend of $0.29. Tanger’s dividend payout ratio is 116.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Compass Point lowered shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research note on Thursday, February 26th. Evercore set a $37.00 target price on shares of Tanger in a research report on Friday, May 1st. Barclays raised their price target on shares of Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Bank of America reaffirmed a “neutral” rating and set a $39.00 price target on shares of Tanger in a 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.43.

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.