Lazard Asset Management LLC Purchases Shares of 42,933 Tanger Inc. $SKT

Lazard Asset Management LLC acquired a new stake in shares of Tanger Inc. (NYSE:SKT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 42,933 shares of the real estate investment trust’s stock, valued at approximately $1,459,000.

Several other large investors have also recently modified their holdings of the stock. SHP Wealth Management bought a new stake in shares of Tanger in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 531 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Tanger by 43.2% during the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 293 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Tanger during the third quarter valued at approximately $33,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Tanger in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Up 0.2%

Shares of Tanger stock opened at $40.83 on Wednesday. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67. The company’s fifty day simple moving average is $39.60 and its two-hundred day simple moving average is $36.70. The company has a market cap of $4.69 billion, a P/E ratio of 38.16, a PEG ratio of 2.08 and a beta of 1.10. Tanger Inc. has a 12-month low of $30.62 and a 12-month high of $42.53.

Tanger (NYSE:SKT) last posted its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.64 EPS for the quarter, topping the consensus estimate of $0.25 by $0.39. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The firm had revenue of $148.27 million during the quarter, compared to analysts’ expectations of $142.58 million. During the same period last year, the company posted $0.58 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Research analysts anticipate that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.1%. Tanger’s payout ratio is currently 116.82%.

Wall Street Analyst Weigh In

SKT has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. LADENBURG THALM/SH SH raised their price target on shares of Tanger from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. BMO Capital Markets boosted their price objective on shares of Tanger from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Scotiabank upped their price objective on shares of Tanger from $37.00 to $41.00 and gave the company a “sector perform” rating in a research note on Thursday, June 18th. Finally, Evercore set a $39.00 target price on shares of Tanger in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.70.

About Tanger

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.