Tanger Inc. (NYSE:SKT) Shares Purchased by Algert Global LLC

Algert Global LLC raised its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 183.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,623 shares of the real estate investment trust's stock after acquiring an additional 157,742 shares during the quarter. Algert Global LLC owned approximately 0.22% of Tanger worth $8,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hancock Whitney Corp lifted its holdings in Tanger by 46.8% in the 1st quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust's stock valued at $2,116,000 after purchasing an additional 22,859 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Tanger by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,549 shares of the real estate investment trust's stock valued at $10,536,000 after acquiring an additional 38,036 shares in the last quarter. Bailard Inc. raised its holdings in Tanger by 64.4% in the 2nd quarter. Bailard Inc. now owns 24,500 shares of the real estate investment trust's stock valued at $664,000 after acquiring an additional 9,600 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Tanger by 42.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 368,612 shares of the real estate investment trust's stock worth $9,993,000 after purchasing an additional 109,388 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Tanger by 44.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Insider Transactions at Tanger

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the sale, the chief accounting officer now directly owns 59,641 shares of the company's stock, valued at $2,163,179.07. This represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SKT shares. Bank of America raised Tanger from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $35.00 to $40.00 in a research note on Monday, November 11th. Evercore ISI boosted their target price on shares of Tanger from $31.00 to $33.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Scotiabank raised their price target on shares of Tanger from $28.00 to $30.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. Citigroup increased their price objective on Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price target on Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.86.

Tanger Stock Down 0.5 %

Shares of SKT stock traded down $0.18 during trading on Friday, reaching $36.49. The company's stock had a trading volume of 752,950 shares, compared to its average volume of 788,911. The stock's 50-day moving average price is $33.93 and its 200 day moving average price is $30.13. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 42.43, a P/E/G ratio of 2.87 and a beta of 1.88. 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 $24.72 and a 1-year high of $37.01.

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

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, October 31st. Tanger's dividend payout ratio is presently 127.91%.

About Tanger

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.