Proficio Capital Partners LLC Invests $2.06 Million in Tanger Inc. (NYSE:SKT)

Proficio Capital Partners LLC acquired a new position in shares of Tanger Inc. (NYSE:SKT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 60,478 shares of the real estate investment trust's stock, valued at approximately $2,064,000. Proficio Capital Partners LLC owned approximately 0.05% of Tanger as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Loomis Sayles & Co. L P raised its position in shares of Tanger by 3,393.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust's stock valued at $57,000 after acquiring an additional 1,663 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Tanger by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 514 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Tanger by 415.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock valued at $95,000 after acquiring an additional 2,249 shares during the last quarter. KBC Group NV raised its position in shares of Tanger by 31.5% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock valued at $122,000 after acquiring an additional 881 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Tanger during the 3rd quarter valued at $160,000. Institutional investors and hedge funds own 85.23% of the company's stock.

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Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction dated 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 approximately $3,664,056.04. This represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.80% of the company's stock.

Tanger Trading Down 1.1 %

Shares of SKT traded down $0.34 during trading hours on Friday, reaching $31.87. The stock had a trading volume of 1,323,226 shares, compared to its average volume of 682,189. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The firm has a 50-day moving average of $33.65 and a 200 day moving average of $33.95. The company has a market cap of $3.59 billion, a P/E ratio of 36.63, a P/E/G 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 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. On average, sell-side analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The company also recently announced 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. This represents a $1.10 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Friday, January 31st. Tanger's dividend payout ratio (DPR) is presently 126.44%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research report on Tuesday, December 17th. They set a "hold" rating and a $37.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $36.00.

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.