A federal grand jury has indicted a 24-year-old James Island man, Daniel Clarke-Pounder, in connection with the arson of Tesla charging stations at Tanger Outlets in North Charleston, South Carolina. The incident occurred on March 7, 2025, and has raised significant concerns regarding safety and security at commercial properties.
Clarke-Pounder faces multiple charges, including arson of property used in interstate commerce, unlawful making of a firearm, and possession of an unregistered firearm. According to court documents, he allegedly "maliciously damaged, by means of fire and explosive materials" the charging stations located adjacent to the mall on Tanger Outlet Boulevard. If convicted, he could be responsible for approximately $60,000 in damages, which is the estimated cost of the destruction.
Surveillance footage played a crucial role in the investigation, helping agents from the Bureau of Alcohol, Tobacco, Firearms and Explosives track Clarke-Pounder to his apartment. During the search, investigators discovered a notebook containing his grievances about the Trump administration, Elon Musk's involvement, and the Department of Government Efficiency, suggesting a motive linked to his political frustrations.
Clarke-Pounder was initially arrested on March 13, 2025, and booked into the Al Cannon Detention Center. A judge later set a cash bond of $10,000 on March 17, 2025, with conditions that include GPS monitoring, drug and alcohol testing, mental health evaluations, substance abuse classes, and adherence to prescribed medications.
This incident highlights the ongoing challenges of maintaining security at commercial venues, especially as tensions surrounding political and social issues continue to escalate. Tanger Outlets, known for its array of shopping options, remains vigilant in ensuring the safety of its patrons and facilities.
In a separate but related development, Tanger Inc. (NYSE: SKT), the real estate investment trust that operates the outlet centers, has been experiencing fluctuations in its stock performance amid recent changes in institutional ownership. The company reported a market capitalization of $3.65 billion and a price-to-earnings (PE) ratio of 37.06 as of April 10, 2025. The stock opened at $32.24, reflecting a slight decline from its previous trading sessions.
During the fourth quarter of 2024, several institutional investors adjusted their stakes in Tanger. Notably, Mutual of America Capital Management LLC increased its stake by 1.9%, now holding 16,767 shares valued at $572,000. Maryland State Retirement & Pension System also raised its position by 0.9%, owning 37,277 shares worth $1,272,000.
Additionally, GAMMA Investing LLC saw a substantial increase of 24.9% in its holdings, now owning 2,578 shares valued at $88,000. Overall, approximately 85.23% of Tanger's stock is currently owned by hedge funds and other institutional investors.
In a recent earnings report, Tanger announced a quarterly earnings per share (EPS) of $0.54, surpassing analysts’ consensus estimates of $0.52. The company reported revenue of $132.17 million for the quarter, which also exceeded the expected $129.10 million. Analysts project that Tanger will post an EPS of 2.24 for the current fiscal year.
The company has also declared a quarterly dividend of $0.275 per share, which was paid on February 14, 2025. This brings the annualized dividend to $1.10, yielding approximately 3.41%. However, Tanger's dividend payout ratio is notably high at 126.44%, raising questions about the sustainability of its dividend policy.
Investors have shown mixed sentiments regarding Tanger's stock. The Goldman Sachs Group recently upgraded its rating from "neutral" to "buy," increasing the price target from $39.00 to $40.00. Conversely, Deutsche Bank initiated coverage with a "hold" rating and a price target of $37.00. Currently, the stock holds a consensus rating of "Moderate Buy" with a target price of $36.63.
As Tanger navigates the complexities of both market performance and security concerns, stakeholders remain focused on the company's ability to maintain its position in the retail landscape. The recent indictment of Clarke-Pounder serves as a reminder of the unpredictable nature of public safety in commercial spaces, while Tanger's financial maneuvers reflect broader trends in the real estate investment trust sector.
With a portfolio of 38 outlet centers and a presence in vibrant markets across 20 states, Tanger Inc. has established itself as a leader in the retail and outlet shopping industries. As it continues to adapt to market demands and challenges, the company’s commitment to providing quality shopping experiences remains steadfast.
