ARS Investment Partners LLC Makes New Investment in Tanger Inc. (NYSE:SKT)

ARS Investment Partners LLC bought a new stake in shares of Tanger Inc. (NYSE:SKT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,262 shares of the real estate investment trust's stock, valued at approximately $555,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKT. HB Wealth Management LLC increased its holdings in Tanger by 19.9% in the fourth quarter. HB Wealth Management LLC now owns 8,425 shares of the real estate investment trust's stock valued at $288,000 after buying an additional 1,399 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Tanger by 36.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 17,045 shares of the real estate investment trust's stock worth $582,000 after purchasing an additional 4,549 shares during the period. Burney Co. grew its holdings in Tanger by 1.8% in the fourth quarter. Burney Co. now owns 255,983 shares of the real estate investment trust's stock valued at $8,737,000 after purchasing an additional 4,502 shares during the period. GAMMA Investing LLC increased its position in shares of Tanger by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock valued at $88,000 after buying an additional 514 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Tanger by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 444,901 shares of the real estate investment trust's stock worth $14,762,000 after buying an additional 9,701 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Trading Down 0.2 %

Shares of NYSE SKT traded down $0.08 during midday trading on Tuesday, reaching $33.12. 943,900 shares of the stock were exchanged, compared to its average volume of 620,650. Tanger Inc. has a twelve month low of $25.67 and a twelve month high of $37.57. The stock has a market capitalization of $3.67 billion, a P/E ratio of 38.51, a PEG ratio of 2.75 and a beta of 1.92. The company has a 50 day simple moving average of $35.02 and a 200 day simple moving average of $32.31. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13.

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

Tanger Announces Dividend

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

Insider Activity at Tanger

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SKT. Bank of America upgraded shares of Tanger from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft began coverage on Tanger in a report on Tuesday, December 17th. They set a "hold" rating and a $37.00 target price for the company. Evercore ISI boosted their price target on Tanger from $31.00 to $33.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Finally, Compass Point upped their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.