Tanger Inc. (NYSE:SKT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 247,125 shares of the real estate investment trust's stock after selling 70,424 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.22% of Tanger worth $8,405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SKT. Loomis Sayles & Co. L P raised its holdings in shares of Tanger by 3,393.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust's stock worth $57,000 after buying an additional 1,663 shares during the period. GAMMA Investing LLC increased its holdings in Tanger by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 514 shares during the period. KBC Group NV increased its holdings in Tanger by 31.5% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock worth $122,000 after purchasing an additional 881 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 purchasing an additional 1,107 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in Tanger during the 3rd quarter worth $151,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Stock Down 0.2 %

Shares of NYSE:SKT traded down $0.06 on Friday, reaching $35.88. The company had a trading volume of 899,064 shares, compared to its average volume of 705,805. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $3.97 billion, a PE ratio of 41.24, a PEG ratio of 2.87 and a beta of 1.91. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The firm's 50 day simple moving average is $33.77 and its 200-day simple moving average is $33.16.

Tanger (NYSE:SKT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The firm had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. Tanger had a return on equity of 16.82% and a net margin of 18.65%. As a group, analysts expect that Tanger Inc. will post 2.23 earnings per share for the current fiscal year.

Tanger Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.07%. Tanger's payout ratio is 126.44%.

Analyst Ratings Changes

Several research analysts have commented on SKT shares. The Goldman Sachs Group raised their price objective on Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Bank of America upgraded Tanger from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $35.00 to $40.00 in a report on Monday, November 11th. BMO Capital Markets initiated coverage on Tanger in a report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price objective on the stock. Citigroup lifted their price target on Tanger from $34.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Evercore ISI lifted their price target on Tanger from $31.00 to $33.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. 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 an average rating of "Hold" and an average target price of $36.00.

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.