O Keefe Stevens Advisory Inc. Sells 8,781 Shares of Tanger Inc. (NYSE:SKT)

O Keefe Stevens Advisory Inc. decreased its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,889 shares of the real estate investment trust's stock after selling 8,781 shares during the quarter. Tanger comprises approximately 3.8% of O Keefe Stevens Advisory Inc.'s investment portfolio, making the stock its 9th biggest holding. O Keefe Stevens Advisory Inc. owned about 0.32% of Tanger worth $12,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SKT. Natixis Advisors LLC grew its position in shares of Tanger by 55.3% during 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 period. Charles Schwab Investment Management Inc. grew its holdings in Tanger by 1.1% during the third 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 purchasing an additional 21,793 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Tanger by 13.6% in the third 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 raised its holdings in Tanger by 5.2% in the third quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust's stock worth $16,691,000 after purchasing an additional 25,014 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of 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 in the last quarter. 85.23% of the stock is owned by institutional investors.

Tanger Stock Up 1.0 %

SKT traded up $0.32 during trading hours on Friday, hitting $33.17. 725,574 shares of the company's stock were exchanged, compared to its average volume of 661,481. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 2.70 and a beta of 1.92. Tanger Inc. has a 1-year low of $25.67 and a 1-year high of $37.57. The stock's 50-day moving average is $35.08 and its two-hundred day moving average is $32.26. 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 (NYSE:SKT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 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 analyst estimates of $125.80 million. The business's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share. Sell-side analysts predict that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.32%. Tanger's dividend payout ratio is currently 127.91%.

Analysts Set New Price Targets

Several analysts recently commented on SKT shares. 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 note on Thursday, November 7th. Citigroup lifted their price objective on Tanger from $34.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. 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 research note on Friday, November 15th. Compass Point lifted their price target on shares of Tanger from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research report on Tuesday, December 17th. They set a "hold" rating and a $37.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $36.00.

Insider Buying and Selling

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business'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 completion of the sale, the chief accounting officer now owns 59,641 shares in the company, valued at $2,163,179.07. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.80% of the stock is owned by insiders.

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.