Victory Capital Management Inc. Increases Stock Holdings in Tanger Inc. (NYSE:SKT)

Victory Capital Management Inc. grew its position in Tanger Inc. (NYSE:SKT - Free Report) by 46.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,909 shares of the real estate investment trust's stock after buying an additional 9,739 shares during the period. Victory Capital Management Inc.'s holdings in Tanger were worth $1,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Loomis Sayles & Co. L P lifted its holdings in shares of Tanger by 3,393.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 1,663 shares during the period. GAMMA Investing LLC boosted its holdings in Tanger by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 514 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Tanger by 415.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock worth $95,000 after purchasing an additional 2,249 shares during the period. KBC Group NV raised its stake in shares of Tanger by 31.5% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust's stock valued at $122,000 after buying an additional 881 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Tanger in the 3rd quarter valued at about $160,000. Hedge funds and other institutional investors own 85.23% of the company's stock.

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Insiders Place Their Bets

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the completion of the sale, the chief operating officer now directly owns 113,158 shares of the company's stock, valued at $3,664,056.04. This represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by corporate insiders.

Tanger Trading Up 4.7 %

Shares of NYSE SKT traded up $1.49 during trading on Monday, reaching $33.37. The stock had a trading volume of 732,667 shares, compared to its average volume of 682,391. The company has a market cap of $3.76 billion, a P/E ratio of 38.35, a PEG ratio of 2.97 and a beta of 1.88. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44. The business's 50-day moving average price is $33.65 and its 200-day moving average price is $33.97. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57.

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 for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The firm had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. On average, equities research analysts predict that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.30%. Tanger's dividend payout ratio is currently 126.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SKT. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price target for the company. BMO Capital Markets initiated coverage on shares of Tanger in a report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Tanger has a consensus rating of "Hold" and an average price target of $36.00.

Tanger Company 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.