Raymond James Financial Inc. purchased a new stake in shares of Tanger Inc. (NYSE:SKT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 145,675 shares of the real estate investment trust's stock, valued at approximately $4,972,000. Raymond James Financial Inc. owned 0.13% of Tanger as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Loomis Sayles & Co. L P boosted its holdings in Tanger by 3,393.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust's stock valued at $57,000 after acquiring an additional 1,663 shares during the period. GAMMA Investing LLC increased its stake in shares of Tanger by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after buying an additional 514 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Tanger by 415.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock worth $95,000 after buying an additional 2,249 shares during the period. KBC Group NV raised its holdings in Tanger by 21.6% during the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust's stock valued at $153,000 after buying an additional 795 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Tanger during the 3rd quarter valued at $160,000. 85.23% of the stock is owned by institutional investors.
Tanger Stock Up 0.0 %
Tanger stock traded up $0.02 on Friday, hitting $32.88. 727,045 shares of the stock traded hands, compared to its average volume of 736,044. The business's fifty day simple moving average is $33.64 and its 200 day simple moving average is $34.02. The firm has a market cap of $3.71 billion, a P/E ratio of 37.79, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57.
Tanger (NYSE:SKT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $132.17 million for the quarter, compared to analyst estimates of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. As a group, sell-side analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.
Tanger Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.35%. Tanger's dividend payout ratio is 126.44%.
Analyst Ratings Changes
SKT has been the topic of several recent analyst reports. The Goldman Sachs Group raised Tanger from a "neutral" rating to a "buy" rating and raised their target price for the stock from $39.00 to $40.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a research report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price objective on the stock. Finally, BMO Capital Markets assumed coverage on Tanger in a research note on Tuesday, January 28th. They set a "market perform" rating and a $36.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.63.
Check Out Our Latest Report on Tanger
Insider Activity at Tanger
In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the completion of the sale, the chief operating officer now directly owns 113,158 shares in the company, valued at $3,664,056.04. This represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.80% of the stock is currently owned by insiders.
Tanger Profile
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Free Report)
Tanger Inc NYSE: SKT is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.
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