Tanger Inc. (NYSE:SKT) Shares Acquired by EMC Capital Management

EMC Capital Management increased its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 8,550.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,274 shares of the real estate investment trust's stock after acquiring an additional 14,109 shares during the period. EMC Capital Management's holdings in Tanger were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SKT. Natixis Advisors LLC increased its holdings in shares of Tanger by 55.3% in the 3rd quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust's stock worth $2,393,000 after buying an additional 25,683 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tanger by 1.1% in 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. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $10,536,000 after purchasing an additional 38,036 shares in the last quarter. Fisher Asset Management LLC boosted its position in Tanger by 5.2% during the third quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust's stock valued at $16,691,000 after buying an additional 25,014 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Tanger by 24.9% in the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 514 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Tanger Price Performance

Shares of Tanger stock traded up $0.14 during trading hours on Monday, reaching $32.96. The company's stock had a trading volume of 370,388 shares, compared to its average volume of 615,393. The stock has a market cap of $3.65 billion, a P/E ratio of 38.38, a P/E/G ratio of 2.72 and a beta of 1.91. Tanger Inc. has a one year low of $25.67 and a one year 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 firm has a 50 day moving average price of $34.45 and a 200-day moving average price of $32.68.

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

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, January 31st. Tanger's dividend payout ratio is currently 127.91%.

Insiders Place Their Bets

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SKT. Compass Point raised their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a research report on Tuesday, December 17th. They set a "hold" rating and a $37.00 price objective for the company. Citigroup increased 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. Evercore ISI raised their price target on Tanger from $31.00 to $33.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Finally, Bank of America upgraded Tanger from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $35.00 to $40.00 in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $36.00.

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.