Natixis Advisors LLC Decreases Stake in Tanger Inc. (NYSE:SKT)

Natixis Advisors LLC lowered its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 33.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,650 shares of the real estate investment trust's stock after selling 24,481 shares during the quarter. Natixis Advisors LLC's holdings in Tanger were worth $1,626,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC lifted its stake in shares of Tanger by 61.7% in the 3rd quarter. Intech Investment Management LLC now owns 39,810 shares of the real estate investment trust's stock valued at $1,321,000 after purchasing an additional 15,197 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Tanger by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 354,990 shares of the real estate investment trust's stock worth $11,779,000 after buying an additional 8,808 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tanger by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust's stock worth $65,210,000 after buying an additional 21,793 shares during the period. Citigroup Inc. increased its position in Tanger by 32.3% during the third quarter. Citigroup Inc. now owns 156,559 shares of the real estate investment trust's stock valued at $5,195,000 after acquiring an additional 38,178 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Tanger by 6.3% in the third quarter. Daiwa Securities Group Inc. now owns 36,423 shares of the real estate investment trust's stock valued at $1,209,000 after acquiring an additional 2,165 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research firms recently commented on SKT. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a "hold" rating and a $37.00 price target for the company. BMO Capital Markets initiated coverage on Tanger in a research note on Tuesday, January 28th. They set a "market perform" rating and a $36.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Tanger presently has an average rating of "Hold" and an average target price of $36.00.

Insider Buying and Selling

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger 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 transaction, the chief operating officer now owns 113,158 shares in the company, valued at $3,664,056.04. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.80% of the stock is currently owned by insiders.

Tanger Stock Up 1.1 %

NYSE SKT traded up $0.36 on Thursday, reaching $33.25. 27,541 shares of the stock traded hands, compared to its average volume of 680,704. Tanger Inc. has a 12 month low of $25.94 and a 12 month high of $37.57. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44. The company has a fifty day moving average price of $33.64 and a 200-day moving average price of $34.00. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 38.22, a PEG ratio of 2.97 and a beta of 1.88.

Tanger (NYSE:SKT - Get Free Report) last released 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%. As a group, research analysts forecast that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, January 31st. Tanger's payout ratio is 126.44%.

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.