Quantbot Technologies LP Decreases Position in Tanger Inc. (NYSE:SKT)

Quantbot Technologies LP decreased its position in Tanger Inc. (NYSE:SKT - Free Report) by 21.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,266 shares of the real estate investment trust's stock after selling 17,644 shares during the period. Quantbot Technologies LP owned 0.06% of Tanger worth $2,166,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of Tanger by 1,412.1% in the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 819 shares during the period. HHM Wealth Advisors LLC bought a new position in shares of Tanger during the second quarter worth $27,000. Whittier Trust Co. acquired a new position in shares of Tanger in the 2nd quarter valued at $33,000. GAMMA Investing LLC increased its position in shares of Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 393 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in 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 worth $57,000 after buying an additional 1,663 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Tanger Stock Down 0.4 %

Shares of NYSE:SKT traded down $0.13 during trading on Friday, hitting $36.97. 379,216 shares of the company were exchanged, compared to its average volume of 737,337. The firm has a fifty day moving average price of $34.35 and a two-hundred day moving average price of $30.35. Tanger Inc. has a fifty-two week low of $24.72 and a fifty-two week high of $37.57. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 2.90 and a beta of 1.88. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40.

Tanger (NYSE:SKT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.31). Tanger had a return on equity of 16.25% and a net margin of 18.55%. The company had revenue of $133.00 million for the quarter, compared to the consensus estimate of $125.80 million. During the same period in the previous year, the firm posted $0.50 EPS. The business's quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts anticipate that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.275 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.10 annualized dividend and a yield of 2.98%. Tanger's dividend payout ratio is currently 127.91%.

Insider Transactions at Tanger

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total transaction of $108,810.00. Following the transaction, the chief accounting officer now directly owns 59,641 shares of the company's stock, valued at approximately $2,163,179.07. The trade was a 4.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SKT shares. Citigroup boosted their target price on Tanger from $34.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Evercore ISI increased their target price on Tanger from $31.00 to $33.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Scotiabank increased their price objective on shares of Tanger from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Monday, August 26th. Finally, Compass Point raised their price objective on shares of Tanger from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tanger has an average rating of "Moderate Buy" and a consensus target price of $34.86.

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.