Tanger Inc. (NYSE:SKT) Shares Acquired by Greenland Capital Management LP

Greenland Capital Management LP increased its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 147.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,142 shares of the real estate investment trust's stock after buying an additional 25,142 shares during the period. Greenland Capital Management LP's holdings in Tanger were worth $1,438,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Tanger by 24.9% in the fourth quarter. FMR LLC now owns 9,397,189 shares of the real estate investment trust's stock worth $320,726,000 after acquiring an additional 1,873,835 shares during the period. Wellington Management Group LLP raised its holdings in Tanger by 34.0% in the 4th quarter. Wellington Management Group LLP now owns 2,748,467 shares of the real estate investment trust's stock worth $93,805,000 after purchasing an additional 697,291 shares during the period. Norges Bank acquired a new position in Tanger in the 4th quarter worth about $22,239,000. JPMorgan Chase & Co. boosted its position in Tanger by 46.1% during the fourth quarter. JPMorgan Chase & Co. now owns 650,060 shares of the real estate investment trust's stock worth $22,187,000 after purchasing an additional 205,159 shares in the last quarter. Finally, Cannell & Spears LLC grew its holdings in Tanger by 263.1% in the fourth quarter. Cannell & Spears LLC now owns 276,682 shares of the real estate investment trust's stock valued at $9,443,000 after purchasing an additional 200,475 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have recently weighed in on SKT shares. Deutsche Bank Aktiengesellschaft began coverage on Tanger in a research note on Tuesday, December 17th. They set a "hold" rating and a $37.00 target price for the company. The Goldman Sachs Group upgraded shares of Tanger from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $39.00 to $40.00 in a research report on Friday, March 28th. Finally, BMO Capital Markets started 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 on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.63.

Tanger Price Performance

SKT traded down $0.04 on Friday, hitting $30.91. 782,177 shares of the company's stock were exchanged, compared to its average volume of 761,453. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 2.97 and a beta of 1.49. The firm has a 50-day moving average price of $33.34 and a 200-day moving average price of $34.02. 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 posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The firm had revenue of $132.17 million for the quarter, compared to analyst estimates of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. As a group, equities analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.2925 per share. This is an increase from Tanger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 3.79%. Tanger's dividend payout ratio (DPR) is presently 134.48%.

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction dated 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 directly owns 113,158 shares of the company's stock, valued at $3,664,056.04. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.80% of the stock is currently owned by corporate insiders.

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.