Tanger Inc. (NYSE:SKT) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in Tanger Inc. (NYSE:SKT - Free Report) by 98.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,696 shares of the real estate investment trust's stock after buying an additional 31,175 shares during the period. Teacher Retirement System of Texas owned 0.06% of Tanger worth $2,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Tanger by 32.2% in the 3rd quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust's stock worth $249,625,000 after buying an additional 1,832,261 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tanger by 387.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust's stock valued at $25,728,000 after buying an additional 616,417 shares during the period. Barclays PLC raised its holdings in shares of Tanger by 174.7% in the third quarter. Barclays PLC now owns 240,281 shares of the real estate investment trust's stock valued at $7,973,000 after acquiring an additional 152,796 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Tanger in the fourth quarter worth about $4,972,000. Finally, Thrivent Financial for Lutherans grew its holdings in Tanger by 33.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 557,168 shares of the real estate investment trust's stock worth $19,016,000 after acquiring an additional 138,456 shares in the last quarter. Institutional investors own 85.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SKT. The Goldman Sachs Group upgraded shares of Tanger from a "neutral" rating to a "buy" rating and boosted their price target for the company from $39.00 to $40.00 in a report on Friday. BMO Capital Markets began coverage on shares of Tanger in a research note on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on Tanger in a research report on Tuesday, December 17th. They set a "hold" rating and a $37.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.63.

Insider Buying and Selling

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the transaction, the chief operating officer now directly owns 113,158 shares of the company's stock, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.80% of the stock is currently owned by company insiders.

Tanger Stock Up 0.0 %

Shares of SKT stock traded up $0.02 during trading hours on Friday, reaching $32.88. 727,045 shares of the company's stock were exchanged, compared to its average volume of 736,044. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57. The stock's 50 day moving average is $33.64 and its 200-day moving average is $34.02. 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 company has a market cap of $3.71 billion, a price-to-earnings ratio of 37.79, a P/E/G ratio of 2.97 and a beta of 1.88.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The company had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. Analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, January 31st. Tanger's payout ratio is 126.44%.

Tanger 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.