Exchange Traded Concepts LLC Has $933,000 Stock Holdings in Tanger Inc. $SKT

Exchange Traded Concepts LLC grew its holdings in Tanger Inc. (NYSE:SKT) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,504 shares of the real estate investment trust’s stock after buying an additional 2,099 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Tanger were worth $933,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Tanger in the 1st quarter valued at about $57,926,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Tanger by 436.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock worth $27,073,000 after purchasing an additional 651,961 shares in the last quarter. Adelante Capital Management LLC bought a new stake in Tanger during the 1st quarter worth approximately $9,498,000. Vanguard Group Inc. boosted its position in Tanger by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 17,511,443 shares of the real estate investment trust’s stock worth $591,712,000 after acquiring an additional 193,141 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in Tanger by 2,703.2% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 200,151 shares of the real estate investment trust’s stock worth $6,763,000 after acquiring an additional 193,011 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen raised Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Evercore ISI raised their price target on Tanger from $33.00 to $35.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. LADENBURG THALM/SH SH began coverage on Tanger in a research report on Friday, July 18th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Barclays boosted their price target on Tanger from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.70.

Tanger Stock Up 0.5%

Shares of NYSE:SKT opened at $33.46 on Wednesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $3.79 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.15 and a beta of 1.34. Tanger Inc. has a 1 year low of $28.69 and a 1 year high of $37.57. The business has a fifty day moving average price of $32.74 and a two-hundred day moving average price of $31.68.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The business had revenue of $133.44 million for the quarter, compared to analysts’ expectations of $132.02 million. During the same quarter in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. Analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

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

Insider Buying and Selling at Tanger

In other news, EVP Gallardo Leslie Swanson sold 17,500 shares of Tanger stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $34.74, for a total value of $607,950.00. Following the sale, the executive vice president directly owned 92,665 shares in the company, valued at approximately $3,219,182.10. This trade represents a 15.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.70% of the company’s stock.

Tanger Company Profile

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.