Albert D Mason Inc. Sells 14,699 Shares of Tanger Inc. (NYSE:SKT)

Albert D Mason Inc. trimmed its stake in Tanger Inc. (NYSE:SKT - Free Report) by 18.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,393 shares of the real estate investment trust's stock after selling 14,699 shares during the period. Tanger accounts for approximately 1.5% of Albert D Mason Inc.'s holdings, making the stock its 15th largest position. Albert D Mason Inc. owned about 0.06% of Tanger worth $2,266,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SKT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tanger in the second quarter worth about $49,000. Loomis Sayles & Co. L P increased its holdings in Tanger by 3,393.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 1,663 shares in the last quarter. GAMMA Investing LLC raised its stake in Tanger by 62.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,064 shares of the real estate investment trust's stock worth $68,000 after acquiring an additional 790 shares during the period. KBC Group NV lifted its holdings in Tanger by 31.5% during the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock valued at $122,000 after purchasing an additional 881 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Tanger by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust's stock valued at $140,000 after purchasing an additional 1,107 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total transaction of $108,810.00. Following the transaction, the chief accounting officer now owns 59,641 shares in the company, valued at $2,163,179.07. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.80% of the stock is currently owned by company insiders.

Tanger Price Performance

NYSE SKT traded up $0.32 during trading on Friday, hitting $33.17. 725,574 shares of the stock traded hands, compared to its average volume of 661,481. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40. Tanger Inc. has a 12-month low of $25.67 and a 12-month high of $37.57. The firm has a 50-day simple moving average of $35.08 and a 200-day simple moving average of $32.22. The company has a market capitalization of $3.67 billion, a P/E ratio of 38.57, a price-to-earnings-growth ratio of 2.70 and a beta of 1.92.

Tanger (NYSE:SKT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.31). Tanger had a net margin of 18.55% and a return on equity of 16.25%. The business had revenue of $133.00 million during the quarter, compared to analysts' expectations of $125.80 million. During the same period last year, the business posted $0.50 earnings per share. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, analysts predict that Tanger Inc. will post 2.11 EPS for the current year.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, January 31st. Tanger's payout ratio is 127.91%.

Wall Street Analyst Weigh In

Several analysts have recently commented on SKT shares. Bank of America upgraded shares of Tanger from a "neutral" rating to a "buy" rating and raised their price objective for the company from $35.00 to $40.00 in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a report on Tuesday, December 17th. They set a "hold" rating and a $37.00 price target on the stock. Citigroup upped their price objective on Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Compass Point lifted their target price on Tanger from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Evercore ISI upped their price target on Tanger from $31.00 to $33.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $36.00.

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.