Tanger Inc. $SKT Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC lessened its holdings in Tanger Inc. (NYSE:SKT) by 32.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,595 shares of the real estate investment trust’s stock after selling 4,521 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Tanger were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SKT. New York State Common Retirement Fund increased its position in shares of Tanger by 20.5% during the first quarter. New York State Common Retirement Fund now owns 108,687 shares of the real estate investment trust’s stock worth $3,673,000 after acquiring an additional 18,486 shares during the last quarter. Citigroup Inc. grew its stake in Tanger by 13.5% during the 1st quarter. Citigroup Inc. now owns 196,082 shares of the real estate investment trust’s stock valued at $6,626,000 after purchasing an additional 23,305 shares in the last quarter. Strs Ohio purchased a new stake in Tanger during the 1st quarter worth approximately $672,000. Cbre Investment Management Listed Real Assets LLC raised its position 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 purchasing an additional 193,011 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 valued at $591,712,000 after buying an additional 193,141 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Stock Down 2.9%

SKT stock opened at $32.96 on Tuesday. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 2.13 and a beta of 1.37. Tanger Inc. has a 1-year low of $28.69 and a 1-year high of $37.57. The firm has a fifty day moving average price of $33.40 and a two-hundred day moving average price of $32.00. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11.

Tanger (NYSE:SKT) last posted its quarterly 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 net margin of 18.22% and a return on equity of 15.45%. The business had revenue of $145.21 million during the quarter, compared to analyst estimates of $139.30 million. During the same period in the previous year, the business posted $0.54 EPS. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Tanger has set its FY 2025 guidance at 2.280-2.320 EPS. Research analysts predict that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, October 31st. Tanger’s dividend payout ratio is presently 124.47%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SKT shares. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, October 8th. Evercore ISI raised their price objective 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. Wall Street Zen upgraded shares of Tanger from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Barclays increased their price target on shares of Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

Insider Activity

In related news, EVP Gallardo Leslie Swanson sold 17,500 shares of the firm’s 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 owned 92,665 shares of the company’s stock, valued at approximately $3,219,182.10. This trade represents a 15.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.70% of the company’s stock.

Tanger 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.