Tanger Inc. (NYSE:SKT) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 387.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 775,411 shares of the real estate investment trust's stock after purchasing an additional 616,417 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.70% of Tanger worth $25,728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in Tanger by 32.2% in the 3rd quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust's stock valued at $249,625,000 after acquiring an additional 1,832,261 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Tanger by 1.1% in 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. Dimensional Fund Advisors LP increased its stake in shares of Tanger by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,628,331 shares of the real estate investment trust's stock worth $44,144,000 after purchasing an additional 123,107 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Tanger by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,091,856 shares of the real estate investment trust's stock worth $29,600,000 after purchasing an additional 55,794 shares during the last quarter. Finally, Land & Buildings Investment Management LLC lifted its stake in Tanger by 52.4% in the 2nd quarter. Land & Buildings Investment Management LLC now owns 1,043,287 shares of the real estate investment trust's stock valued at $28,284,000 after buying an additional 358,860 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Trading Down 1.7 %

SKT stock traded down $0.62 during trading on Thursday, reaching $36.28. 143,533 shares of the stock were exchanged, compared to its average volume of 732,555. The business has a 50 day moving average price of $34.72 and a 200-day moving average price of $30.61. Tanger Inc. has a 1 year low of $25.67 and a 1 year high of $37.57. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 42.83, a P/E/G ratio of 2.88 and a beta of 1.90.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.31). The business had revenue of $133.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, research analysts predict that Tanger Inc. will post 2.11 earnings per share for the current year.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.275 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.03%. Tanger's payout ratio is currently 127.91%.

Analyst Upgrades and Downgrades

SKT has been the subject of several research reports. The Goldman Sachs Group boosted their price objective 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 increased their price objective on Tanger from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Bank of America raised shares of Tanger from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $35.00 to $40.00 in a research note on Monday, November 11th. Scotiabank increased their target price on shares of Tanger from $28.00 to $30.00 and gave the company a "sector perform" rating in a research report on Monday, August 26th. Finally, Citigroup raised 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.86.

Insiders Place Their Bets

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is currently 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.