KLP Kapitalforvaltning AS acquired a new stake in Tanger Inc. (NYSE:SKT - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,100 shares of the real estate investment trust's stock, valued at approximately $754,000.
Several other large investors also recently modified their holdings of SKT. Mutual of America Capital Management LLC grew its stake in Tanger by 1.9% in the 4th quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust's stock valued at $572,000 after buying an additional 319 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Tanger by 0.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust's stock worth $1,272,000 after acquiring an additional 349 shares during the period. DAVENPORT & Co LLC grew its position in shares of Tanger by 1.4% in the fourth quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust's stock valued at $1,074,000 after purchasing an additional 425 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Tanger by 24.9% during the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 514 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Tanger by 12.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust's stock worth $175,000 after purchasing an additional 583 shares during the last quarter. 85.23% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the completion of the transaction, the chief operating officer now owns 113,158 shares of the company's stock, valued at $3,664,056.04. This represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.80% of the stock is owned by corporate insiders.
Tanger Price Performance
SKT traded down $2.97 on Thursday, hitting $31.68. 1,832,690 shares of the stock were exchanged, compared to its average volume of 742,518. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. Tanger Inc. has a 12 month low of $25.94 and a 12 month high of $37.57. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 2.97 and a beta of 1.88. The business has a 50-day moving average of $33.69 and a two-hundred day moving average of $34.06.
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 (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The business had revenue of $132.17 million for the quarter, compared to analyst estimates of $129.10 million. Sell-side analysts forecast that Tanger Inc. will post 2.24 EPS for the current fiscal year.
Tanger Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Friday, January 31st. Tanger's payout ratio is 126.44%.
Analyst Ratings Changes
SKT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price objective on the stock. The Goldman Sachs Group raised shares of Tanger from a "neutral" rating to a "buy" rating and raised their price target 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 report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.63.
View Our Latest Report on Tanger
Tanger 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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