Norges Bank Invests $15.71 Million in Tanger Inc. $SKT

Norges Bank bought a new position in Tanger Inc. (NYSE:SKT) in the 4th quarter, Holdings Channel reports. The firm bought 470,700 shares of the real estate investment trust’s stock, valued at approximately $15,707,000.

Several other institutional investors have also recently made changes to their positions in SKT. Royal Bank of Canada lifted its holdings in shares of Tanger by 2.8% in the 1st quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock worth $4,905,000 after acquiring an additional 3,995 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Tanger by 17.8% in the 1st quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock worth $1,291,000 after acquiring an additional 5,765 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Tanger by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock worth $2,171,000 after acquiring an additional 3,631 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Tanger in the 1st quarter worth about $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Tanger by 436.9% in the 1st 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 worth $27,073,000 after acquiring an additional 651,961 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Trading Up 6.3%

NYSE SKT opened at $39.39 on Wednesday. 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 company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 36.81, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. The company’s 50-day simple moving average is $36.06 and its two-hundred day simple moving average is $34.79. Tanger Inc. has a one year low of $29.24 and a one year high of $39.61.

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

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $0.3125 per share. This is a positive change 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 dividend on an annualized basis and a yield of 3.2%. Tanger’s payout ratio is 116.82%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Monday, April 20th. Bank of America reaffirmed a “neutral” rating and issued a $39.00 price target on shares of Tanger in a research note on Friday, March 6th. Finally, Scotiabank raised their price target on shares of Tanger from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 19th. One 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 company. Based on data from MarketBeat, the company currently has a consensus 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.