Sumitomo Mitsui Trust Group Inc. Sells 80,031 Shares of Tanger Inc. $SKT

Sumitomo Mitsui Trust Group Inc. lowered its stake in Tanger Inc. (NYSE:SKT) by 38.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,059 shares of the real estate investment trust’s stock after selling 80,031 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Tanger were worth $4,283,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SKT. Northwestern Mutual Wealth Management Co. grew its stake in Tanger by 5.5% in the third 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 in the last quarter. M&T Bank Corp raised its stake in shares of 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 worth $314,000 after purchasing an additional 326 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Tanger by 13.2% in the fourth quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 332 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Tanger by 2.0% in the third quarter. Mercer Global Advisors Inc. ADV now owns 17,496 shares of the real estate investment trust’s stock valued at $592,000 after buying an additional 346 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in Tanger by 3.0% during the fourth quarter. Lido Advisors LLC now owns 12,440 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 365 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Price Performance

Shares of Tanger stock opened at $39.90 on Wednesday. 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 stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.09. Tanger Inc. has a twelve month low of $29.24 and a twelve month high of $41.50. The company has a 50-day simple moving average of $37.94 and a two-hundred day simple moving average of $35.90.

Tanger (NYSE:SKT) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). Tanger had a return on equity of 17.53% and a net margin of 20.76%.The business had revenue of $150.42 million for the quarter, compared to analyst estimates of $142.94 million. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. Analysts forecast that Tanger Inc. will post 2.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SKT. Bank of America reaffirmed an “underperform” rating and set a $38.00 price target on shares of Tanger in a research report on Tuesday, June 16th. BMO Capital Markets boosted their price objective on shares of Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, June 17th. Evercore set a $39.00 target price on shares of Tanger in a research note on Tuesday, July 7th. Finally, Barclays lifted their price target on Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.70.

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.