Tanger Inc. (NYSE:SKT) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP lifted its stake in Tanger Inc. (NYSE:SKT - Free Report) by 38.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,963 shares of the real estate investment trust's stock after buying an additional 45,113 shares during the quarter. Marshall Wace LLP owned about 0.15% of Tanger worth $5,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its stake in shares of Tanger by 1.9% during the fourth 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 purchasing an additional 319 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Tanger by 0.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust's stock valued at $1,272,000 after purchasing an additional 349 shares during the period. FIL Ltd boosted its holdings in shares of Tanger by 16.2% in the fourth quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust's stock valued at $98,000 after purchasing an additional 401 shares during the period. DAVENPORT & Co LLC increased its holdings in Tanger by 1.4% during the 4th quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust's stock worth $1,074,000 after purchasing an additional 425 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Tanger by 1.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 32,851 shares of the real estate investment trust's stock valued at $1,121,000 after acquiring an additional 480 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Performance

SKT stock traded up $0.19 during trading on Friday, hitting $32.08. 553,767 shares of the company traded hands, compared to its average volume of 768,872. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The stock's 50-day simple moving average is $32.94 and its 200 day simple moving average is $33.93. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57. The company has a market cap of $3.63 billion, a PE ratio of 36.87, a P/E/G ratio of 2.97 and a beta of 1.49.

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, beating analysts' consensus estimates of $0.52 by $0.02. The company had revenue of $132.17 million for the quarter, compared to analyst estimates of $129.10 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. On average, equities analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.2925 per share. This is a boost from Tanger's previous quarterly dividend of $0.28. This represents a $1.17 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Wednesday, April 30th. Tanger's dividend payout ratio is currently 134.48%.

Insider Activity at Tanger

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm's 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BMO Capital Markets initiated coverage on Tanger in a research report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 target price on the stock. The Goldman Sachs Group upgraded shares of Tanger from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $39.00 to $40.00 in a report on Friday, March 28th. Finally, Scotiabank reduced their price target on Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $37.00.

Tanger Company 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.