Barclays PLC Acquires 152,796 Shares of Tanger Inc. (NYSE:SKT)

Barclays PLC boosted its position in Tanger Inc. (NYSE:SKT - Free Report) by 174.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,281 shares of the real estate investment trust's stock after purchasing an additional 152,796 shares during the period. Barclays PLC owned 0.22% of Tanger worth $7,973,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SKT. FMR LLC grew its holdings in shares of Tanger by 32.2% during the third quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust's stock worth $249,625,000 after purchasing an additional 1,832,261 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tanger by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust's stock worth $65,210,000 after acquiring an additional 21,793 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Tanger by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,628,331 shares of the real estate investment trust's stock valued at $44,144,000 after acquiring an additional 123,107 shares during the period. Bank of New York Mellon Corp increased its position in Tanger by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,091,856 shares of the real estate investment trust's stock valued at $29,600,000 after acquiring an additional 55,794 shares during the period. Finally, Land & Buildings Investment Management LLC raised its stake in shares of Tanger by 52.4% during the second quarter. Land & Buildings Investment Management LLC now owns 1,043,287 shares of the real estate investment trust's stock valued at $28,284,000 after acquiring an additional 358,860 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Compass Point boosted their price objective on shares of 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 upgraded Tanger from a "neutral" rating to a "buy" rating and upped their price target for the company from $35.00 to $40.00 in a research report on Monday, November 11th. Evercore ISI raised their price objective on Tanger from $31.00 to $33.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a report on Tuesday. They issued a "hold" rating and a $37.00 target price on the stock. Finally, Citigroup raised their price target on shares of Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.13.

Tanger Trading Down 2.3 %

SKT stock traded down $0.83 during mid-day trading on Wednesday, reaching $34.58. The company's stock had a trading volume of 1,170,418 shares, compared to its average volume of 730,469. Tanger Inc. has a 12 month low of $25.67 and a 12 month high of $37.57. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The business's 50 day moving average price is $35.21 and its 200 day moving average price is $31.16. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 40.21, a price-to-earnings-growth ratio of 2.78 and a beta of 1.90.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.31). The company had revenue of $133.00 million during the quarter, compared to the consensus estimate of $125.80 million. Tanger had a net margin of 18.55% and a return on equity of 16.25%. The business's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, equities research analysts predict that Tanger Inc. will post 2.11 EPS for the current year.

Tanger Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.18%. Tanger's dividend payout ratio (DPR) is presently 127.91%.

Insider Transactions at Tanger

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the company's stock in a transaction that occurred on 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 $2,163,179.07. This represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.