Nicholas Investment Partners LP Takes Position in Tanger Inc. $SKT

Nicholas Investment Partners LP purchased a new position in shares of Tanger Inc. (NYSE:SKT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 430,134 shares of the real estate investment trust’s stock, valued at approximately $16,977,000. Nicholas Investment Partners LP owned about 0.37% of Tanger at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SHP Wealth Management bought a new position in Tanger in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 531 shares during the last quarter. Fifth Third Bancorp grew its holdings in Tanger by 43.2% during the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 293 shares during the last quarter. Advisory Services Network LLC acquired a new position in Tanger in the 3rd quarter valued at approximately $33,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Tanger in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Up 1.8%

Tanger stock opened at $38.91 on Tuesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12. Tanger Inc. has a 52-week low of $31.13 and a 52-week high of $42.53. The firm has a 50 day moving average price of $39.92 and a two-hundred day moving average price of $37.28. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 1.87 and a beta of 1.10.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Tanger had a net margin of 20.74% and a return on equity of 17.72%. The firm had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. During the same quarter in the previous year, the company earned $0.58 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. Equities analysts predict that Tanger Inc. will post 2.48 EPS for the current year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.3125 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.25 annualized dividend and a yield of 3.2%. Tanger’s payout ratio is presently 113.64%.

Analyst Ratings Changes

SKT has been the topic of a number of recent research reports. Bank of America reiterated an “underperform” rating and set a $38.00 price target on shares of Tanger in a report on Tuesday, June 16th. Citigroup increased their price objective on Tanger from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Scotiabank raised their target price on Tanger from $37.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. BMO Capital Markets lifted their target price on Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Finally, Barclays lifted their target price on Tanger from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.40.

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.