Tanger Inc. $SKT Shares Purchased by Voya Investment Management LLC

Voya Investment Management LLC raised its position in Tanger Inc. (NYSE:SKT) by 98.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 154,079 shares of the real estate investment trust’s stock after purchasing an additional 76,614 shares during the period. Voya Investment Management LLC owned about 0.14% of Tanger worth $5,206,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tanger by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,620 shares of the real estate investment trust’s stock worth $2,069,000 after buying an additional 2,354 shares during the last quarter. ProShare Advisors LLC grew its stake in Tanger by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 32,171 shares of the real estate investment trust’s stock valued at $1,098,000 after purchasing an additional 9,901 shares in the last quarter. Tidal Investments LLC acquired a new stake in Tanger during the 4th quarter valued at approximately $276,000. Two Sigma Investments LP grew its position in shares of Tanger by 307.3% in the 4th quarter. Two Sigma Investments LP now owns 120,095 shares of the real estate investment trust’s stock worth $4,099,000 after acquiring an additional 90,607 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Tanger by 28.9% in the 4th quarter. Two Sigma Advisers LP now owns 77,700 shares of the real estate investment trust’s stock worth $2,652,000 after acquiring an additional 17,400 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

SKT has been the subject of a number of analyst reports. Wall Street Zen upgraded Tanger from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. LADENBURG THALM/SH SH assumed coverage on Tanger in a research report on Friday, July 18th. They set a “buy” rating and a $35.00 target price on the stock. Barclays boosted their target price on Tanger from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 27th. Finally, Evercore ISI boosted their target price on Tanger from $33.00 to $35.00 and gave the stock an “in-line” rating in a research report on Monday. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Tanger has a consensus rating of “Moderate Buy” and a consensus price target of $36.70.

Insider Activity at Tanger

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of Tanger stock in a transaction on Friday, September 5th. The stock was sold at an average price of $34.74, for a total transaction of $607,950.00. Following the completion of the sale, the executive vice president directly owned 92,665 shares of the company’s stock, valued at $3,219,182.10. The trade was a 15.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is currently owned by company insiders.

Tanger Price Performance

Shares of SKT stock opened at $33.88 on Friday. The stock has a 50 day moving average of $32.66 and a two-hundred day moving average of $31.72. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.31. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $37.57. The company has a market capitalization of $3.83 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.19 and a beta of 1.34.

Tanger (NYSE:SKT) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $133.44 million during the quarter, compared to the consensus estimate of $132.02 million. Tanger had a return on equity of 15.45% and a net margin of 18.22%.Tanger’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. As a group, equities analysts expect that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, July 31st. Tanger’s dividend payout ratio (DPR) is 132.95%.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.