Janney Montgomery Scott LLC Sells 310,970 Shares of Tanger Inc. $SKT

by · The Markets Daily

Janney Montgomery Scott LLC lessened its stake in shares of Tanger Inc. (NYSE:SKT – Free Report) by 94.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 16,912 shares of the real estate investment trust’s stock after selling 310,970 shares during the period. Janney Montgomery Scott LLC’s holdings in Tanger were worth $668,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. SHP Wealth Management bought a new position in shares of Tanger in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in Tanger by 127.3% in the 2nd 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. Fifth Third Bancorp increased its holdings in Tanger by 43.2% in the 1st 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 in the last quarter. Advisory Services Network LLC bought a new position in Tanger in the third quarter valued at about $33,000. Finally, Laurel Wealth Advisors LLC bought a new position in Tanger in the fourth quarter valued at about $34,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Price Performance

Tanger stock opened at $38.45 on Friday. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 1.88 and a beta of 1.10. Tanger Inc. has a 52-week low of $31.13 and a 52-week high of $42.53. The stock’s 50 day moving average price is $40.05 and its two-hundred day moving average price is $37.00. The company has a debt-to-equity ratio of 2.65, a quick ratio of 2.12 and a current ratio of 2.12.

Tanger (NYSE:SKT – Get Free Report) last released its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $156.39 million for the quarter, compared to the consensus estimate of $142.58 million. Tanger had a net margin of 20.74% and a return on equity of 17.72%. Tanger’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. Tanger has set its FY 2026 guidance at 2.450-2.520 EPS. On average, equities analysts predict that Tanger Inc. will post 2.48 earnings per share for the current year.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.3125 per share. The ex-dividend date was Friday, July 31st. This represents a $1.25 annualized dividend and a dividend yield of 3.3%. Tanger’s dividend payout ratio is currently 113.64%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SKT. UBS Group set a $41.00 price target on Tanger in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tanger from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, June 17th. Bank of America restated an “underperform” rating and issued a $38.00 price objective on shares of Tanger in a report on Tuesday, June 16th. Citigroup lifted their target price on Tanger from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Barclays upped their price target on Tanger from $38.00 to $41.00 and gave the company 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.30.

Check Out Our Latest Report on SKT

Tanger Company Profile

(Free Report)

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.

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