Aew Capital Management L P cut its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 99.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,800 shares of the real estate investment trust's stock after selling 524,490 shares during the quarter. Aew Capital Management L P's holdings in Tanger were worth $96,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SKT. Creative Planning raised its holdings in shares of Tanger by 14.5% in the third quarter. Creative Planning now owns 9,637 shares of the real estate investment trust's stock valued at $320,000 after purchasing an additional 1,219 shares during the last quarter. International Assets Investment Management LLC increased its stake in Tanger by 3,218.0% in the 3rd quarter. International Assets Investment Management LLC now owns 14,931 shares of the real estate investment trust's stock valued at $495,000 after buying an additional 14,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tanger by 35.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust's stock worth $140,000 after buying an additional 1,107 shares in the last quarter. abrdn plc boosted its stake in shares of Tanger by 10.0% during the 3rd quarter. abrdn plc now owns 22,327 shares of the real estate investment trust's stock worth $741,000 after buying an additional 2,026 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Tanger by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 18,297 shares of the real estate investment trust's stock worth $624,000 after buying an additional 2,008 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.
Tanger Stock Performance
Shares of NYSE SKT traded up $0.64 during mid-day trading on Wednesday, reaching $35.60. 819,309 shares of the company were exchanged, compared to its average volume of 745,505. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57. The stock has a market capitalization of $4.01 billion, a P/E ratio of 40.92, a P/E/G ratio of 2.97 and a beta of 1.91. The company's 50-day simple moving average is $33.89 and its 200-day simple moving average is $33.69. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09.
Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The company had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. As a group, research analysts predict 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. Stockholders of record on Friday, January 31st were given a $0.275 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.09%. Tanger's payout ratio is presently 126.44%.
Analyst Ratings Changes
Several research firms recently issued reports on SKT. Bank of America upgraded Tanger from a "neutral" rating to a "buy" rating and upped their target price for the stock from $35.00 to $40.00 in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price objective for the company. Evercore ISI boosted their target price on shares of Tanger from $31.00 to $33.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. BMO Capital Markets initiated coverage on shares of Tanger in a research report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. 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, the stock presently has a consensus rating of "Hold" and an average price target of $36.00.
Read Our Latest Stock Analysis on SKT
About Tanger
(
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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