SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 8.4% Stake in Tanger Inc.

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have jointly disclosed a beneficial ownership of 8.4% of Tanger Inc.'s common stock as of December 31, 2024.

Summary

• FMR LLC and Abigail P. Johnson, as reporting persons, have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Tanger Inc.
• As of December 31, 2024, FMR LLC and Abigail P. Johnson collectively beneficially own 9,334,688.70 shares of Tanger Inc. common stock.
• This aggregate amount represents 8.4% of the total outstanding common stock of Tanger Inc.
• FMR LLC holds sole voting power over 9,074,970.00 shares and sole dispositive power over 9,334,688.70 shares.
• Abigail P. Johnson, while listed as a reporting person, holds no sole or shared voting or dispositive power directly, but is deemed to beneficially own the same aggregate amount due to her role and family's control over FMR LLC.
• The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Tanger Inc.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain subjective language or performance metrics that would indicate a positive or negative sentiment. It is a standard regulatory filing.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing reflects a significant passive ownership stake by a major asset management firm (FMR LLC, parent of Fidelity Investments) in Tanger Inc., a publicly traded real estate investment trust (REIT) specializing in outlet centers. Such disclosures are routine for large institutional investors crossing certain ownership thresholds and typically indicate a long-term investment perspective rather than an active attempt to influence management or strategy.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by a prominent institutional investor like FMR LLC could be viewed positively, potentially signaling confidence in Tanger Inc.'s long-term prospects, although the filing explicitly states the shares are not held for control purposes.

Key Dates

Keywords

Tanger Inc, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Institutional Investor, Real Estate Investment Trust