First Eagle Investment Management LLC Purchases 38,600 Shares of Tanger Inc. (NYSE:SKT)

First Eagle Investment Management LLC increased its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 30.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,104 shares of the real estate investment trust's stock after acquiring an additional 38,600 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.15% of Tanger worth $5,601,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SKT. Loomis Sayles & Co. L P lifted its holdings in Tanger by 3,393.9% during 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 acquiring an additional 1,663 shares during the period. GAMMA Investing LLC increased its position in Tanger by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after buying an additional 514 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Tanger by 415.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock worth $95,000 after buying an additional 2,249 shares during the last quarter. KBC Group NV increased its position in Tanger by 31.5% in the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock worth $122,000 after buying an additional 881 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Tanger in the third quarter worth $160,000. 85.23% of the stock is currently owned by institutional investors.

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Tanger Stock Performance

Shares of NYSE SKT traded down $0.50 during mid-day trading on Thursday, hitting $32.24. The company had a trading volume of 579,417 shares, compared to its average volume of 678,964. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 37.05, a P/E/G 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 current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. The stock's 50-day moving average price is $33.68 and its 200-day moving average price is $33.93.

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

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Friday, January 31st. Tanger's payout ratio is 126.44%.

Insider Buying and Selling

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the transaction, the chief operating officer now directly owns 113,158 shares in the company, valued at $3,664,056.04. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SKT shares. BMO Capital Markets started coverage on Tanger in a research report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a research report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.00.

Tanger Company 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.