Legato Capital Management LLC Buys 3,748 Shares of Tanger Inc. (NYSE:SKT)

Legato Capital Management LLC increased its stake in Tanger Inc. (NYSE:SKT) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,544 shares of the real estate investment trust’s stock after buying an additional 3,748 shares during the quarter. Legato Capital Management LLC’s holdings in Tanger were worth $1,725,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Natixis Advisors LLC lifted its position in Tanger by 55.3% in the third 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 last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 21,793 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Tanger by 13.6% during 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 buying an additional 38,036 shares during the period. Fisher Asset Management LLC increased its stake in shares of Tanger by 5.2% during the third quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust’s stock valued at $16,691,000 after buying an additional 25,014 shares during the period. Finally, GAMMA Investing LLC increased its stake 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 valued at $88,000 after buying an additional 514 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Tanger Trading Up 0.3 %

Tanger stock opened at $33.23 on Wednesday. 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 Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 2.82 and a beta of 1.91. The stock has a 50-day moving average price of $33.97 and a 200 day moving average price of $32.94.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Friday, January 31st. Tanger’s dividend payout ratio (DPR) is 127.91%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SKT shares. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 price target on the stock. The Goldman Sachs Group lifted their target price on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Citigroup lifted their target price on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI lifted their target price on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and lifted their target price for the company from $35.00 to $40.00 in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.00.

Insider Buying and Selling

In other Tanger 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 value of $108,810.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.80% of the company’s stock.

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.