Tanger Inc. (NYSE:SKT) Stock Position Decreased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC reduced its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 221,575 shares of the real estate investment trust's stock after selling 15,569 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.20% of Tanger worth $7,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SKT. Loomis Sayles & Co. L P lifted 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 valued at $57,000 after purchasing an additional 1,663 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Tanger by 24.9% during the 4th 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. Smartleaf Asset Management LLC raised its holdings in shares of Tanger by 415.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock valued at $95,000 after buying an additional 2,249 shares during the period. KBC Group NV boosted its holdings 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 during the period. Finally, Truvestments Capital LLC acquired a new position in shares of Tanger in the third quarter valued at approximately $160,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

Remove Ads

Insider Activity at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the sale, the chief operating officer now directly owns 113,158 shares in the company, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.80% of the stock is owned by insiders.

Tanger Price Performance

SKT stock traded up $0.06 during trading on Wednesday, reaching $32.92. 465,259 shares of the company were exchanged, compared to its average volume of 683,281. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The company has a market cap of $3.71 billion, a P/E ratio of 37.83, a PEG ratio of 2.97 and a beta of 1.88. The stock's 50 day moving average price is $33.64 and its 200 day moving average price is $34.00. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating 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. As a group, analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, January 31st. Tanger's dividend payout ratio (DPR) is 126.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Tanger in a research note on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Tanger in a research note on Tuesday, December 17th. They set a "hold" rating and a $37.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.