Beck Capital Management LLC Grows Position in Tanger Inc. (NYSE:SKT)

Beck Capital Management LLC lifted its stake in Tanger Inc. (NYSE:SKT - Free Report) by 77.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,276 shares of the real estate investment trust's stock after purchasing an additional 47,642 shares during the period. Beck Capital Management LLC owned 0.10% of Tanger worth $3,626,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Natixis Advisors LLC grew its stake in Tanger by 55.3% in the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust's stock worth $2,393,000 after purchasing an additional 25,683 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $65,210,000 after buying an additional 21,793 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Tanger by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,549 shares of the real estate investment trust's stock worth $10,536,000 after buying an additional 38,036 shares during the period. Bailard Inc. increased its stake 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 acquiring an additional 9,600 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Tanger by 42.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 368,612 shares of the real estate investment trust's stock valued at $9,993,000 after acquiring an additional 109,388 shares during the period. Institutional investors own 85.23% of the company's stock.

Analysts Set New Price Targets

SKT has been the subject of a number of analyst reports. Scotiabank raised their target price on shares of Tanger from $28.00 to $30.00 and gave the company a "sector perform" rating in a research note on Monday, August 26th. The Goldman Sachs Group raised their price objective on Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. Evercore ISI boosted their target price on Tanger from $31.00 to $33.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Bank of America upgraded Tanger from a "neutral" rating to a "buy" rating and raised their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. Finally, Citigroup upped their price target 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tanger currently has an average rating of "Moderate Buy" and an average target price of $34.86.

Insider Activity

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total value of $108,810.00. Following the transaction, the chief accounting officer now owns 59,641 shares of the company's stock, valued at approximately $2,163,179.07. This trade represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.80% of the company's stock.

Tanger Stock Performance

Shares of NYSE:SKT traded down $0.01 during midday trading on Monday, reaching $36.96. 691,372 shares of the company's stock traded hands, compared to its average volume of 737,139. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. Tanger Inc. has a one year low of $25.67 and a one year high of $37.57. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 41.07, a P/E/G ratio of 2.89 and a beta of 1.88. The stock has a 50 day moving average of $34.46 and a 200 day moving average of $30.44.

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

Tanger Dividend Announcement

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

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.