Ibex Wealth Advisors Takes Position in Tanger Inc. (NYSE:SKT)

Ibex Wealth Advisors acquired a new position in Tanger Inc. (NYSE:SKT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,467 shares of the real estate investment trust's stock, valued at approximately $733,000.

Several other hedge funds also recently added to or reduced their stakes in SKT. Loomis Sayles & Co. L P lifted its position in shares of 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 purchasing an additional 1,663 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tanger in the 2nd quarter valued at about $49,000. GAMMA Investing LLC grew its stake in shares of Tanger by 62.0% during the third quarter. GAMMA Investing LLC now owns 2,064 shares of the real estate investment trust's stock valued at $68,000 after acquiring an additional 790 shares in the last quarter. KBC Group NV increased its position in shares of Tanger by 31.5% during the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock worth $122,000 after acquiring an additional 881 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tanger by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust's stock worth $140,000 after acquiring an additional 1,107 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tanger

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction that occurred 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 sale, the chief accounting officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.80% of the stock is currently owned by company insiders.

Tanger Stock Performance

Shares of Tanger stock traded up $0.48 during trading hours on Thursday, reaching $33.25. The company's stock had a trading volume of 88,356 shares, compared to its average volume of 621,561. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. Tanger Inc. has a one year low of $25.67 and a one year high of $37.57. The company's 50 day simple moving average is $34.59 and its 200 day simple moving average is $32.58. The stock has a market cap of $3.68 billion, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 2.71 and a beta of 1.92.

Tanger (NYSE:SKT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.31). The company had revenue of $133.00 million during the quarter, compared to analyst estimates of $125.80 million. Tanger had a net margin of 18.55% and a return on equity of 16.25%. The business's revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, analysts expect that Tanger Inc. will post 2.11 EPS for the current fiscal year.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, January 31st. Tanger's dividend payout ratio is presently 127.91%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SKT shares. BMO Capital Markets assumed coverage on Tanger in a report on Tuesday. They set a "market perform" rating and a $36.00 price objective on the stock. Citigroup lifted their price target on shares of Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Compass Point increased their price objective on shares of Tanger from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Bank of America raised shares of Tanger from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research report on Tuesday, December 17th. They set a "hold" rating and a $37.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Tanger currently has an average rating of "Hold" and an average price target of $36.00.

About Tanger

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.