Proficio Capital Partners LLC purchased a new position in shares of Tanger Inc. (NYSE:SKT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,478 shares of the real estate investment trust's stock, valued at approximately $2,064,000. Proficio Capital Partners LLC owned about 0.05% of Tanger as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its position in Tanger by 8.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 60,453 shares of the real estate investment trust's stock valued at $2,063,000 after buying an additional 4,590 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Tanger in the fourth quarter valued at approximately $709,000. Investment Management Associates Inc. ADV boosted its position in Tanger by 17.3% in the fourth quarter. Investment Management Associates Inc. ADV now owns 10,185 shares of the real estate investment trust's stock valued at $348,000 after buying an additional 1,500 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Tanger by 11.3% in the fourth quarter. Handelsbanken Fonder AB now owns 35,353 shares of the real estate investment trust's stock valued at $1,207,000 after buying an additional 3,600 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in Tanger in the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 85.23% of the company's stock.
Tanger Price Performance
Shares of SKT stock traded down $0.50 during trading hours on Friday, hitting $33.63. 643,465 shares of the company's stock were exchanged, compared to its average volume of 743,867. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The firm has a market cap of $3.79 billion, a P/E ratio of 38.66, a P/E/G ratio of 2.97 and a beta of 1.88. The firm has a 50 day moving average of $33.90 and a two-hundred day moving average of $33.74. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57.
Tanger (NYSE:SKT - Get Free Report) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The business had revenue of $132.17 million during the quarter, compared to the consensus estimate of $129.10 million. Sell-side analysts forecast that Tanger Inc. will post 2.24 EPS for the current year.
Tanger Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Friday, January 31st. Tanger's dividend payout ratio is currently 126.44%.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a research report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Friday, November 15th. Bank of America upgraded Tanger from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Citigroup upped their price objective on Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets assumed coverage on Tanger in a research report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $36.00.
Get Our Latest Analysis on SKT
About Tanger
(
Free Report)
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.
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