Nomura Asset Management Co. Ltd. Buys 9,850 Shares of Tanger Inc. (NYSE:SKT)

Nomura Asset Management Co. Ltd. lifted its position in Tanger Inc. (NYSE:SKT - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,420 shares of the real estate investment trust's stock after buying an additional 9,850 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.13% of Tanger worth $4,963,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SKT. Charles Schwab Investment Management Inc. boosted its stake in Tanger by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,997,100 shares of the real estate investment trust's stock valued at $68,161,000 after buying an additional 31,750 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tanger by 387.7% during the 3rd 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 valued at $25,728,000 after acquiring an additional 616,417 shares during the last quarter. Norges Bank bought a new stake in shares of Tanger during the 4th quarter valued at about $22,239,000. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 205,159 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Tanger by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 601,266 shares of the real estate investment trust's stock worth $20,521,000 after purchasing an additional 30,618 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

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Tanger Trading Down 8.6 %

SKT stock traded down $2.97 during trading on Thursday, hitting $31.68. 1,832,690 shares of the company traded hands, compared to its average volume of 742,518. 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 50-day moving average of $33.69 and a 200-day moving average of $34.06. The firm has a market capitalization of $3.57 billion, a PE ratio of 36.41, a P/E/G ratio of 2.97 and a beta of 1.88. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57.

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, 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 analyst estimates of $129.10 million. Analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.47%. Tanger's dividend payout ratio is currently 126.44%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SKT. The Goldman Sachs Group raised shares of Tanger from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $39.00 to $40.00 in a research note on Friday, March 28th. BMO Capital Markets started coverage on shares of Tanger in a research report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Tanger in a research report on Tuesday, December 17th. They set a "hold" rating and a $37.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Tanger presently has an average rating of "Moderate Buy" and an average price target of $36.63.

Insider Transactions at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 113,158 shares in the company, valued at $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is currently owned by company insiders.

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.