Geode Capital Management LLC Has $96.11 Million Stake in Tanger Inc. $SKT

Geode Capital Management LLC grew its holdings in Tanger Inc. (NYSE:SKT) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,879,693 shares of the real estate investment trust’s stock after buying an additional 27,201 shares during the period. Geode Capital Management LLC’s holdings in Tanger were worth $96,111,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Tanger by 5.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 306 shares during the last quarter. M&T Bank Corp lifted its holdings in Tanger by 3.3% during the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 326 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Tanger by 11.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,185 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 330 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Tanger by 13.2% during the 4th quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 332 shares during the last quarter. Finally, M&G PLC lifted its holdings in Tanger by 5.6% during the 3rd quarter. M&G PLC now owns 6,435 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 340 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SKT. Evercore set a $37.00 price target on Tanger in a report on Friday, May 1st. 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Monday, April 20th. Scotiabank raised their price target on Tanger from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Tuesday, May 19th. Finally, Barclays raised their price target on Tanger from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.43.

Tanger Stock Performance

SKT opened at $37.10 on Friday. The firm has a market cap of $4.26 billion, a P/E ratio of 34.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. Tanger Inc. has a 52-week low of $29.24 and a 52-week high of $37.95. The company has a debt-to-equity ratio of 2.67, a quick ratio of 3.36 and a current ratio of 3.36. The business’s fifty day moving average is $35.88 and its 200-day moving average is $34.70.

Tanger (NYSE:SKT) last released its 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 company had revenue of $150.42 million for the quarter, compared to analyst estimates of $142.94 million. Tanger had a return on equity of 17.53% and a net margin of 20.76%.The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Sell-side analysts expect that Tanger Inc. will post 2.46 EPS for the current fiscal year.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.3125 per share. This is an increase from Tanger’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.25 annualized dividend and a dividend yield of 3.4%. Tanger’s payout ratio is currently 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.