Nicholas Investment Partners LP Has $15.04 Million Position in Tanger Inc. $SKT

Nicholas Investment Partners LP increased its position in Tanger Inc. (NYSE:SKT) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 450,672 shares of the real estate investment trust’s stock after buying an additional 17,081 shares during the quarter. Tanger accounts for approximately 1.1% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 23rd largest position. Nicholas Investment Partners LP’s holdings in Tanger were worth $15,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Tanger by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 17,949,640 shares of the real estate investment trust’s stock valued at $598,979,000 after purchasing an additional 789,935 shares during the period. State Street Corp increased its position in Tanger by 3.4% during the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock valued at $202,924,000 after purchasing an additional 215,174 shares during the period. Geode Capital Management LLC increased its position in Tanger by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,879,693 shares of the real estate investment trust’s stock valued at $96,111,000 after purchasing an additional 27,201 shares during the period. Invesco Ltd. increased its position in Tanger by 13.0% during the 3rd quarter. Invesco Ltd. now owns 2,301,124 shares of the real estate investment trust’s stock valued at $77,870,000 after purchasing an additional 264,408 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Tanger by 18.0% during the third quarter. Wellington Management Group LLP now owns 2,182,273 shares of the real estate investment trust’s stock worth $73,848,000 after buying an additional 332,387 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. LADENBURG THALM/SH SH lifted their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank lifted their target price 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. Compass Point downgraded 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. Bank of America reissued a “neutral” rating and set a $39.00 target price on shares of Tanger in a research note on Friday, March 6th. Finally, Evercore set a $37.00 target price on shares of Tanger in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Tanger has an average rating of “Hold” and a consensus price target of $38.43.

Tanger Stock Performance

Shares of SKT stock opened at $40.40 on Friday. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 37.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. Tanger Inc. has a 52 week low of $29.24 and a 52 week high of $40.56. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 2.67. The firm has a 50 day moving average of $36.42 and a 200-day moving average of $34.92.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 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 quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities analysts forecast that Tanger Inc. will post 2.46 earnings per share for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders 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 annualized dividend and a dividend yield of 3.1%. Tanger’s payout ratio is 116.82%.

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.