Fox Run Management L.L.C. Has $766,000 Stake in Tanger Inc. (NYSE:SKT)

Fox Run Management L.L.C. raised its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 56.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,429 shares of the real estate investment trust's stock after acquiring an additional 8,135 shares during the quarter. Fox Run Management L.L.C.'s holdings in Tanger were worth $766,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SKT. Natixis Advisors LLC raised its holdings in Tanger by 55.3% in the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust's stock valued at $2,393,000 after acquiring an additional 25,683 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Tanger by 2.6% during the 4th quarter. Rhumbline Advisers now owns 399,556 shares of the real estate investment trust's stock valued at $13,637,000 after acquiring an additional 10,283 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Tanger by 4.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 163,420 shares of the real estate investment trust's stock valued at $5,560,000 after purchasing an additional 7,647 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tanger by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust's stock valued at $65,210,000 after acquiring an additional 21,793 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Tanger in the 4th quarter worth approximately $709,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a "hold" rating and a $37.00 price objective on the stock. BMO Capital Markets began coverage on shares of Tanger in a research report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 target price for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Tanger currently has a consensus rating of "Hold" and an average price target of $36.00.

Tanger Stock Down 0.2 %

Shares of SKT traded down $0.05 during midday trading on Thursday, hitting $32.84. The stock had a trading volume of 91,795 shares, compared to its average volume of 680,943. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The company has a 50 day simple moving average of $33.64 and a two-hundred day simple moving average of $34.00. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88.

Tanger (NYSE:SKT - Get Free Report) last issued its earnings results 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. The business had revenue of $132.17 million during 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, analysts anticipate that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Friday, January 31st. Tanger's dividend payout ratio (DPR) is presently 126.44%.

Insider Buying and Selling at Tanger

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 113,158 shares in the company, valued at $3,664,056.04. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.80% of the company's stock.

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.