Asset Management One Co. Ltd. Has $5.56 Million Stock Position in Tanger Inc. (NYSE:SKT)

Asset Management One Co. Ltd. boosted its stake in Tanger Inc. (NYSE:SKT - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 163,420 shares of the real estate investment trust's stock after buying an additional 7,647 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Tanger worth $5,560,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SKT. FMR LLC lifted 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 buying an additional 1,832,261 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tanger by 387.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust's stock worth $25,728,000 after acquiring an additional 616,417 shares during the period. Algert Global LLC raised its stake in Tanger by 183.7% in the 3rd quarter. Algert Global LLC now owns 243,623 shares of the real estate investment trust's stock worth $8,083,000 after purchasing an additional 157,742 shares in the last quarter. Barclays PLC raised its stake in Tanger by 174.7% in the 3rd quarter. Barclays PLC now owns 240,281 shares of the real estate investment trust's stock worth $7,973,000 after purchasing an additional 152,796 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Tanger by 74.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 206,704 shares of the real estate investment trust's stock valued at $7,055,000 after purchasing an additional 88,106 shares during the period. 85.23% of the stock is owned by institutional investors.

Tanger Price Performance

Shares of SKT traded down $0.06 during midday trading on Friday, hitting $35.88. The company's stock had a trading volume of 899,064 shares, compared to its average volume of 705,805. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40. Tanger Inc. has a one year low of $25.94 and a one year high of $37.57. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 2.87 and a beta of 1.91. The company's fifty day simple moving average is $33.77 and its two-hundred day simple moving average is $33.16.

Tanger (NYSE:SKT - Get Free Report) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The firm had revenue of $132.17 million for the quarter, compared to analysts' expectations of $129.10 million. Tanger had a return on equity of 16.82% and a net margin of 18.65%. As a group, equities analysts expect that Tanger Inc. will post 2.23 earnings per share for the current fiscal year.

Tanger Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, January 31st. Tanger's dividend payout ratio is 126.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SKT shares. Citigroup raised their target price on shares of Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Compass Point raised their price objective 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 upgraded Tanger from a "neutral" rating to a "buy" rating and upped their target price for the company from $35.00 to $40.00 in a research report on Monday, November 11th. The Goldman Sachs Group increased their target price on Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a research note on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price target for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $36.00.

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.