New Age Alpha Advisors LLC Purchases New Shares in Tanger Inc. (NYSE:SKT)

New Age Alpha Advisors LLC purchased a new stake in Tanger Inc. (NYSE:SKT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 48,205 shares of the real estate investment trust's stock, valued at approximately $1,645,000.

Other large investors have also recently modified their holdings of the company. FMR LLC increased its holdings in Tanger by 32.2% in the third quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust's stock valued at $249,625,000 after purchasing an additional 1,832,261 shares during the period. Norges Bank acquired a new stake in shares of Tanger in the fourth quarter valued at about $22,239,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tanger by 387.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust's stock worth $25,728,000 after acquiring an additional 616,417 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Tanger by 46.1% during the fourth quarter. JPMorgan Chase & Co. now owns 650,060 shares of the real estate investment trust's stock worth $22,187,000 after acquiring an additional 205,159 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Tanger by 174.7% in the third quarter. Barclays PLC now owns 240,281 shares of the real estate investment trust's stock worth $7,973,000 after acquiring an additional 152,796 shares during the period. Institutional investors own 85.23% of the company's stock.

Insider Buying and Selling at Tanger

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 113,158 shares of the company's stock, valued at $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on SKT shares. The Goldman Sachs Group upgraded 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 report on Friday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 target price on the stock. Finally, BMO Capital Markets assumed coverage on Tanger in a report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price target for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Tanger currently has an average rating of "Moderate Buy" and an average target price of $36.63.

Tanger Stock Down 3.5 %

Shares of SKT stock traded down $1.12 on Friday, reaching $30.56. 1,862,240 shares of the company were exchanged, compared to its average volume of 746,391. Tanger Inc. has a one year low of $25.94 and a one year high of $37.57. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 2.97 and a beta of 1.88. The company has a 50-day moving average of $33.64 and a 200-day moving average of $34.05. 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 (NYSE:SKT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The firm had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. Analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.60%. Tanger's payout ratio is 126.44%.

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.