Bank of New York Mellon Corp Lowers Stock Holdings in Tanger Inc. $SKT

Bank of New York Mellon Corp lessened its position in shares of Tanger Inc. (NYSE:SKT) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 837,561 shares of the real estate investment trust’s stock after selling 22,433 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Tanger worth $28,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SKT. SHP Wealth Management purchased a new stake in shares of Tanger in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Tanger by 127.3% during the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Tanger during the third quarter worth about $33,000. Fifth Third Bancorp increased its position in shares of Tanger by 43.2% in the first quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 293 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Tanger in the fourth quarter worth approximately $34,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on SKT shares. Bank of America reissued an “underperform” rating and issued a $38.00 price target on shares of Tanger in a research note on Tuesday, June 16th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tanger from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, June 17th. BMO Capital Markets upped their target price on shares of Tanger from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Finally, Barclays upped their target price on shares of Tanger from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Tanger currently has a consensus rating of “Hold” and a consensus price target of $39.70.

Tanger Stock Down 0.4%

Shares of NYSE:SKT opened at $41.77 on Tuesday. The stock has a market capitalization of $4.80 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The stock’s 50-day moving average price is $38.93 and its 200-day moving average price is $36.39. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67. Tanger Inc. has a 12-month low of $29.24 and a 12-month high of $42.08.

Tanger (NYSE:SKT) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The company had revenue of $150.42 million during the quarter, compared to the consensus estimate of $142.94 million. Tanger had a net margin of 20.76% and a return on equity of 17.53%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. Tanger has set its FY 2026 guidance at 2.420-2.500 EPS. On average, equities analysts anticipate that Tanger Inc. will post 2.48 earnings per share for the current year.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.25 annualized dividend and a yield of 3.0%. Tanger’s dividend payout ratio is presently 116.82%.

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.