Quantbot Technologies LP Grows Stock Holdings in Tanger Inc. (NYSE:SKT)

Quantbot Technologies LP grew its position in Tanger Inc. (NYSE:SKT - Free Report) by 50.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,090 shares of the real estate investment trust's stock after acquiring an additional 32,824 shares during the quarter. Quantbot Technologies LP owned about 0.09% of Tanger worth $3,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SKT. Loomis Sayles & Co. L P raised its holdings in Tanger by 3,393.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,663 shares in the last quarter. GAMMA Investing LLC increased its position in Tanger by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 514 shares during the period. Smartleaf Asset Management LLC raised its stake 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 worth $95,000 after buying an additional 2,249 shares in the last quarter. KBC Group NV lifted its holdings in shares of Tanger by 21.6% in the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust's stock valued at $153,000 after buying an additional 795 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in shares of Tanger in the third quarter valued at approximately $160,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

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

Tanger Price Performance

Shares of Tanger stock traded up $0.06 on Wednesday, hitting $32.92. The company's stock had a trading volume of 465,259 shares, compared to its average volume of 683,269. The company has a market capitalization of $3.71 billion, a P/E ratio of 37.83, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The firm has a fifty day moving average price of $33.64 and a 200-day moving average price of $34.00. 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 (NYSE:SKT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The company had revenue of $132.17 million for the quarter, compared to the consensus estimate of $129.10 million. On average, equities research analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, January 31st. Tanger's payout ratio is 126.44%.

Insider Transactions at Tanger

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the sale, the chief operating officer now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.80% of the company's stock.

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.