Teacher Retirement System of Texas Has $1.47 Million Holdings in Tanger Inc. $SKT

Teacher Retirement System of Texas reduced its position in Tanger Inc. (NYSE:SKT) by 16.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,213 shares of the real estate investment trust’s stock after selling 9,699 shares during the quarter. Teacher Retirement System of Texas’ holdings in Tanger were worth $1,474,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in shares of Tanger by 20.5% in the 1st quarter. New York State Common Retirement Fund now owns 108,687 shares of the real estate investment trust’s stock valued at $3,673,000 after buying an additional 18,486 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Tanger by 13.5% in the 1st quarter. Citigroup Inc. now owns 196,082 shares of the real estate investment trust’s stock valued at $6,626,000 after buying an additional 23,305 shares during the last quarter. Strs Ohio acquired a new stake in shares of Tanger in the 1st quarter valued at approximately $672,000. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Tanger by 2,703.2% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 200,151 shares of the real estate investment trust’s stock valued at $6,763,000 after buying an additional 193,011 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Tanger by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 17,511,443 shares of the real estate investment trust’s stock valued at $591,712,000 after buying an additional 193,141 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Trading Up 2.7%

SKT opened at $33.67 on Wednesday. Tanger Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $37.57. 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 firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 2.13 and a beta of 1.36. The company’s 50 day moving average price is $33.43 and its two-hundred day moving average price is $31.84.

Tanger (NYSE:SKT) last announced its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%.The business had revenue of $137.23 million for the quarter, compared to analysts’ expectations of $139.30 million. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. As a group, research analysts predict that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, October 31st. Tanger’s dividend payout ratio (DPR) is currently 132.95%.

Analyst Ratings Changes

Several brokerages recently commented on SKT. Barclays lifted their target price on shares of Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. LADENBURG THALM/SH SH began coverage on shares of Tanger in a report on Friday, July 18th. They set a “buy” rating and a $35.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. Finally, Wall Street Zen raised shares of Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Activity

In other news, EVP Gallardo Leslie Swanson sold 17,500 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $34.74, for a total value of $607,950.00. Following the completion of the sale, the executive vice president owned 92,665 shares in the company, valued at $3,219,182.10. This represents a 15.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.70% of the stock is currently owned by corporate insiders.

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.