Tanger Inc. (NYSE:SKT) Stock Holdings Lifted by Stifel Financial Corp

Stifel Financial Corp increased its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 48.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,402 shares of the real estate investment trust's stock after purchasing an additional 22,002 shares during the period. Stifel Financial Corp owned 0.06% of Tanger worth $2,236,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in Tanger by 1,412.1% in the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 819 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Tanger by 3.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 55,000 shares of the real estate investment trust's stock valued at $1,491,000 after buying an additional 1,700 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Tanger by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,091,856 shares of the real estate investment trust's stock worth $29,600,000 after buying an additional 55,794 shares during the last quarter. Bailard Inc. raised its position in shares of Tanger by 64.4% in the 2nd quarter. Bailard Inc. now owns 24,500 shares of the real estate investment trust's stock worth $664,000 after buying an additional 9,600 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Tanger by 10.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 279,513 shares of the real estate investment trust's stock valued at $7,578,000 after acquiring an additional 27,173 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SKT has been the subject of several research analyst reports. Compass Point upped their price target on Tanger from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Bank of America raised shares of Tanger from a "neutral" rating to a "buy" rating and increased their target price for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Citigroup boosted their price objective on shares of Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Evercore ISI raised their target price on shares of Tanger from $31.00 to $33.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Finally, Scotiabank lifted their target price on shares of Tanger from $28.00 to $30.00 and gave the company a "sector perform" rating in a report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Tanger presently has an average rating of "Hold" and an average target price of $36.00.

Tanger Stock Down 0.0 %

SKT traded down $0.01 during trading hours on Friday, reaching $34.34. 2,709,497 shares of the stock traded hands, compared to its average volume of 740,299. Tanger Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $37.57. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 2.78 and a beta of 1.90. The firm's fifty day simple moving average is $35.25 and its two-hundred day simple moving average is $31.21.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly 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 business had revenue of $133.00 million during the quarter, compared to analyst estimates of $125.80 million. During the same quarter last year, the firm posted $0.50 EPS. The company's revenue was up 13.3% compared to the same quarter last year. As a group, analysts forecast that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, October 31st. Tanger's payout ratio is currently 127.91%.

Insider Buying and Selling

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

About Tanger

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.