Vanguard Group Inc. Buys 20,423 Shares of Tanger Inc. (NYSE:SKT)

Vanguard Group Inc. raised its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,318,302 shares of the real estate investment trust's stock after acquiring an additional 20,423 shares during the period. Vanguard Group Inc. owned approximately 15.65% of Tanger worth $591,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Tanger by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 514 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Tanger by 415.7% in 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 last quarter. KBC Group NV increased its position in shares of Tanger by 21.6% during the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust's stock worth $153,000 after purchasing an additional 795 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Tanger by 12.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust's stock worth $175,000 after purchasing an additional 583 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in Tanger during the 4th quarter valued at about $200,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were 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 owns 113,158 shares in the company, valued at $3,664,056.04. This represents a 9.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.80% of the stock is currently owned by corporate insiders.

Tanger Trading Down 3.5 %

Shares of SKT traded down $1.12 during trading hours on Friday, hitting $30.56. 1,862,240 shares of the stock traded hands, compared to its average volume of 746,558. The business has a fifty day moving average of $33.64 and a 200-day moving average of $34.05. 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 firm has a market capitalization of $3.44 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57.

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

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.60%. Tanger's dividend payout ratio (DPR) is presently 126.44%.

Analyst Ratings Changes

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

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.