Barclays PLC Buys 87,818 Shares of Tanger Inc. (NYSE:SKT)

Barclays PLC grew its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 36.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 328,099 shares of the real estate investment trust's stock after acquiring an additional 87,818 shares during the quarter. Barclays PLC owned 0.30% of Tanger worth $11,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in Tanger by 2.3% in the third quarter. Franklin Resources Inc. now owns 95,286 shares of the real estate investment trust's stock valued at $3,205,000 after buying an additional 2,169 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Tanger by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 444,901 shares of the real estate investment trust's stock worth $14,762,000 after purchasing an additional 9,701 shares during the last quarter. GAMMA Investing LLC increased its stake 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 during the period. Burney Co. raised its holdings in Tanger by 1.8% in the 4th quarter. Burney Co. now owns 255,983 shares of the real estate investment trust's stock valued at $8,737,000 after buying an additional 4,502 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Tanger by 36.4% during 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 buying an additional 4,549 shares during the period. Institutional investors own 85.23% of the company's stock.

Insider Buying and Selling

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total transaction of $404,750.00. Following the transaction, the chief operating officer now owns 113,158 shares in the company, valued at approximately $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SKT shares. BMO Capital Markets initiated coverage on shares of Tanger in a report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price target on the stock. The Goldman Sachs Group raised Tanger from a "neutral" rating to a "buy" rating and increased their price target for the company from $39.00 to $40.00 in a research note on Friday, March 28th. Finally, Scotiabank reduced their target price on Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Tanger has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Tanger Trading Up 0.6 %

SKT stock traded up $0.19 during mid-day trading on Friday, reaching $32.08. The company's stock had a trading volume of 553,767 shares, compared to its average volume of 767,958. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.97 and a beta of 1.49. Tanger Inc. has a 12 month low of $25.94 and a 12 month high of $37.57. The business's 50 day moving average price is $32.94 and its 200 day moving average price is $33.92. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09.

Tanger (NYSE:SKT - Get Free Report) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The company had revenue of $132.17 million for the quarter, compared to the consensus estimate of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. On average, equities research analysts predict that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.65%. This is a positive change from Tanger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, April 30th. Tanger's payout ratio is presently 134.48%.

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.