Tanger Inc. (NYSE:SKT) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC grew its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 55.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,131 shares of the real estate investment trust's stock after purchasing an additional 25,683 shares during the quarter. Natixis Advisors LLC owned approximately 0.07% of Tanger worth $2,393,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SKT. Blue Trust Inc. grew its stake in Tanger by 1,412.1% in the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 819 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in Tanger during the second quarter valued at approximately $27,000. Whittier Trust Co. purchased a new position in Tanger in the second quarter worth $33,000. GAMMA Investing LLC increased its position in shares of Tanger by 44.6% during the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 393 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Tanger by 418.6% during the 2nd quarter. CWM LLC now owns 1,732 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 1,398 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SKT. Evercore ISI increased their price target on Tanger from $31.00 to $33.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Scotiabank lifted their price objective on Tanger from $28.00 to $30.00 and gave the company a "sector perform" rating in a research note on Monday, August 26th. The Goldman Sachs Group lifted their price target on Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. Citigroup lifted their price target on Tanger from $34.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Compass Point upped their target price on Tanger from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.86.

Insider Transactions at Tanger

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the transaction, the chief accounting officer now owns 59,641 shares in the company, valued at approximately $2,163,179.07. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.80% of the company's stock.

Tanger Price Performance

SKT stock traded up $0.18 during mid-day trading on Monday, reaching $36.67. The company's stock had a trading volume of 913,284 shares, compared to its average volume of 739,953. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The company's 50 day moving average is $33.93 and its two-hundred day moving average is $30.13. Tanger Inc. has a fifty-two week low of $24.72 and a fifty-two week high of $37.01. The stock has a market cap of $4.06 billion, a PE ratio of 42.64, a P/E/G ratio of 2.85 and a beta of 1.88.

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

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.00%. Tanger's dividend payout ratio (DPR) is presently 127.91%.

Tanger 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.