Tanger Inc. (NYSE:SKT) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 503,053 shares of the real estate investment trust's stock after buying an additional 25,014 shares during the quarter. Fisher Asset Management LLC owned 0.45% of Tanger worth $16,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Natixis Advisors LLC increased its position in shares of Tanger by 55.3% during the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust's stock worth $2,393,000 after acquiring an additional 25,683 shares during the period. Allspring Global Investments Holdings LLC raised its position in Tanger by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,549 shares of the real estate investment trust's stock valued at $10,536,000 after purchasing an additional 38,036 shares in the last quarter. Bailard Inc. boosted its stake in shares of Tanger by 64.4% in the 2nd quarter. Bailard Inc. now owns 24,500 shares of the real estate investment trust's stock valued at $664,000 after buying an additional 9,600 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Tanger by 42.2% during the second quarter. Thrivent Financial for Lutherans now owns 368,612 shares of the real estate investment trust's stock worth $9,993,000 after buying an additional 109,388 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Tanger by 44.6% during the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust's stock worth $35,000 after buying an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Insiders Place Their Bets

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total transaction of $108,810.00. Following the completion of the transaction, the chief accounting officer now directly owns 59,641 shares of the company's stock, valued at approximately $2,163,179.07. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.80% of the stock is currently owned by insiders.

Tanger Stock Performance

Tanger stock traded up $0.23 during midday trading on Thursday, hitting $37.10. 453,629 shares of the company's stock were exchanged, compared to its average volume of 738,894. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 2.87 and a beta of 1.88. Tanger Inc. has a 12-month low of $24.72 and a 12-month high of $37.49. The firm's 50 day simple moving average is $34.25 and its 200 day simple moving average is $30.30.

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

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, October 31st. Tanger's payout ratio is 127.91%.

Wall Street Analyst Weigh In

SKT has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Evercore ISI raised their target price on Tanger from $31.00 to $33.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Bank of America raised Tanger from a "neutral" rating to a "buy" rating and upped their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. Compass Point increased their target price on shares of Tanger from $34.00 to $36.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their price target on shares of Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.86.

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.