Inceptionr LLC increased its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 128.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,807 shares of the real estate investment trust's stock after acquiring an additional 10,586 shares during the quarter. Inceptionr LLC's holdings in Tanger were worth $642,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in SKT. Loomis Sayles & Co. L P raised its holdings in Tanger by 3,393.9% in the 3rd 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. GAMMA Investing LLC raised its stake 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 in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 period. KBC Group NV boosted its position in Tanger by 31.5% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock valued at $122,000 after acquiring an additional 881 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Tanger during the 3rd quarter worth approximately $160,000. Institutional investors own 85.23% of the company's stock.
Tanger Stock Up 0.6 %
Tanger stock traded up $0.20 during trading hours on Tuesday, hitting $32.88. The stock had a trading volume of 1,304,736 shares, compared to its average volume of 759,901. The stock's 50-day moving average price is $33.87 and its 200-day moving average price is $33.84. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $3.71 billion, a P/E ratio of 37.79, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88.
Tanger (NYSE:SKT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $132.17 million during 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%. Equities research analysts anticipate that Tanger Inc. will post 2.24 EPS for the current fiscal year.
Tanger Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.35%. Tanger's payout ratio is 126.44%.
Analyst Ratings Changes
A number of research firms have recently commented on SKT. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a research report on Tuesday, December 17th. They set a "hold" rating and a $37.00 price target on the stock. Bank of America upgraded shares of Tanger from a "neutral" rating to a "buy" rating and boosted their target price for the company from $35.00 to $40.00 in a report on Monday, November 11th. Citigroup increased 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. BMO Capital Markets initiated coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $36.00.
Get Our Latest Analysis on Tanger
Tanger Company Profile
(
Free Report)
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.
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