Amundi raised its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 48.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,067 shares of the real estate investment trust's stock after acquiring an additional 37,400 shares during the quarter. Amundi owned 0.10% of Tanger worth $3,796,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its position 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 worth $249,625,000 after purchasing an additional 1,832,261 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Tanger by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,997,100 shares of the real estate investment trust's stock worth $68,161,000 after purchasing an additional 31,750 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tanger by 387.7% during the 3rd 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 in the last quarter. Principal Financial Group Inc. grew its position in Tanger by 5.4% during the 4th quarter. Principal Financial Group Inc. now owns 601,266 shares of the real estate investment trust's stock worth $20,521,000 after purchasing an additional 30,618 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Tanger by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 511,051 shares of the real estate investment trust's stock worth $17,442,000 after purchasing an additional 7,998 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.
Tanger Stock Down 1.5 %
Shares of NYSE:SKT traded down $0.50 during trading on Thursday, reaching $32.24. 579,410 shares of the company traded hands, compared to its average volume of 678,964. The firm has a fifty day simple moving average of $33.68 and a 200 day simple moving average of $33.93. The firm has a market cap of $3.63 billion, a P/E ratio of 37.05, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57. 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 released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The business had revenue of $132.17 million during the quarter, compared to analyst estimates of $129.10 million. Analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.
Tanger Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Friday, January 31st. Tanger's payout ratio is presently 126.44%.
Insider Activity at Tanger
In related news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value of $404,750.00. Following the completion of the sale, the chief operating officer now owns 113,158 shares of the company's stock, valued at approximately $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.80% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
SKT has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a "hold" rating and a $37.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $36.00.
View Our Latest Stock Report on SKT
Tanger Company Profile
(
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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