Advisors Preferred LLC Sells 35,915 Shares of Tanger Inc. (NYSE:SKT)

Advisors Preferred LLC cut its stake in Tanger Inc. (NYSE:SKT - Free Report) by 18.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,933 shares of the real estate investment trust's stock after selling 35,915 shares during the period. Advisors Preferred LLC owned 0.14% of Tanger worth $5,405,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. FMR LLC lifted its stake in Tanger by 32.2% during the 3rd quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust's stock valued at $249,625,000 after acquiring an additional 1,832,261 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Tanger by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust's stock valued at $65,210,000 after buying an additional 21,793 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tanger by 387.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust's stock worth $25,728,000 after purchasing an additional 616,417 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Tanger by 5.2% in the third quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust's stock valued at $16,691,000 after purchasing an additional 25,014 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Tanger by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 444,901 shares of the real estate investment trust's stock valued at $14,762,000 after acquiring an additional 9,701 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets started coverage on shares of Tanger in a report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Bank of America raised Tanger from a "neutral" rating to a "buy" rating and increased their price objective for the company from $35.00 to $40.00 in a report on Monday, November 11th. Evercore ISI lifted their price objective on Tanger from $31.00 to $33.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Finally, Compass Point upped their price target on Tanger from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tanger presently has an average rating of "Hold" and a consensus price target of $36.00.

Tanger Price Performance

Shares of NYSE SKT traded up $0.38 during trading on Wednesday, hitting $33.61. 562,289 shares of the company were exchanged, compared to its average volume of 666,350. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 2.82 and a beta of 1.91. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57. The firm's fifty day moving average price is $33.90 and its 200 day moving average price is $32.94.

Tanger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.27%. Tanger's payout ratio is currently 127.91%.

Insider Transactions at Tanger

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total value of $108,810.00. Following the transaction, the chief accounting officer now directly owns 59,641 shares in the company, valued at approximately $2,163,179.07. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.80% of the company's stock.

Tanger Profile

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.