Fisher Asset Management LLC increased its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 511,051 shares of the real estate investment trust's stock after buying an additional 7,998 shares during the quarter. Fisher Asset Management LLC owned about 0.46% of Tanger worth $17,442,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P raised its holdings in shares of Tanger by 3,393.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 1,663 shares during the period. GAMMA Investing LLC raised its stake in Tanger by 24.9% during the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 514 shares during the period. KBC Group NV boosted its holdings in Tanger by 31.5% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock valued at $122,000 after purchasing an additional 881 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Tanger by 35.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust's stock valued at $140,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Tanger in the 3rd quarter valued at approximately $160,000. Institutional investors and hedge funds own 85.23% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Bank of America raised shares of Tanger from a "neutral" rating to a "buy" rating and lifted their price target for the company from $35.00 to $40.00 in a research report on Monday, November 11th. The Goldman Sachs Group upped their price target on Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Citigroup increased their price target on Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tanger in a research note on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price target on the stock. Finally, Evercore ISI boosted their price objective on Tanger from $31.00 to $33.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Tanger currently has a consensus rating of "Hold" and an average target price of $36.00.
Get Our Latest Research Report on Tanger
Tanger Stock Down 1.5 %
NYSE:SKT traded down $0.50 during midday trading on Friday, reaching $33.63. The company had a trading volume of 643,465 shares, compared to its average volume of 743,867. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 2.97 and a beta of 1.91. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. The stock's fifty day simple moving average is $33.91 and its 200-day simple moving average is $33.71.
Tanger (NYSE:SKT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The business had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. On average, sell-side analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.
Tanger Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Friday, January 31st. Tanger's dividend payout ratio is presently 126.44%.
Tanger Profile
(
Free Report)
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.
Featured Articles
Before you consider Tanger, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tanger wasn't on the list.
While Tanger currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
