Oliver Luxxe Assets LLC Invests $1.87 Million in Tanger Inc. $SKT

Oliver Luxxe Assets LLC bought a new stake in Tanger Inc. (NYSE:SKT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 55,162 shares of the real estate investment trust’s stock, valued at approximately $1,867,000.

Several other institutional investors and hedge funds have also bought and sold shares of SKT. Invesco Ltd. grew its stake in Tanger by 127.0% in the second quarter. Invesco Ltd. now owns 2,036,716 shares of the real estate investment trust’s stock valued at $62,283,000 after purchasing an additional 1,139,288 shares in the last quarter. GRS Advisors LLC boosted its holdings in shares of Tanger by 98.9% in the 2nd quarter. GRS Advisors LLC now owns 1,889,097 shares of the real estate investment trust’s stock valued at $57,769,000 after buying an additional 939,424 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Tanger by 436.9% in the first 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 valued at $27,073,000 after buying an additional 651,961 shares in the last quarter. Presima Securities ULC acquired a new position in Tanger during the second quarter worth $14,453,000. Finally, Janney Montgomery Scott LLC bought a new stake in Tanger during the second quarter worth $9,227,000. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Down 0.9%

Shares of SKT opened at $34.10 on Monday. The firm has a market cap of $3.93 billion, a P/E ratio of 36.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.06. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.51 and a current ratio of 0.51. Tanger Inc. has a 52 week low of $28.69 and a 52 week high of $36.76. The firm’s 50-day simple moving average is $33.60 and its 200 day simple moving average is $32.97.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Tanger had a return on equity of 15.75% and a net margin of 19.15%.The company had revenue of $145.21 million during the quarter, compared to analysts’ expectations of $139.30 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business’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. On average, analysts forecast 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 was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a dividend of $0.2925 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.4%. Tanger’s dividend payout ratio (DPR) is currently 124.47%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SKT. LADENBURG THALM/SH SH raised shares of Tanger to a “strong-buy” rating in a research report on Thursday, November 20th. Barclays raised their target price on shares of Tanger from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 18th. Evercore ISI boosted their price target on Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Citigroup restated a “neutral” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Tanger in a research note on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

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.