Vanderbilt University increased its holdings in Tanger Inc. (NYSE:SKT – Free Report) by 37.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,360 shares of the real estate investment trust’s stock after acquiring an additional 5,599 shares during the quarter. Vanderbilt University’s holdings in Tanger were worth $695,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. DAVENPORT & Co LLC increased its holdings in Tanger by 1.4% during the 4th quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust’s stock worth $1,074,000 after purchasing an additional 425 shares during the last quarter. GAMMA Investing LLC increased 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 buying an additional 514 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Tanger by 12.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 583 shares in the last quarter. KBC Group NV boosted its stake in Tanger by 21.6% during the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 795 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Tanger by 35.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 1,107 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on SKT shares. The Goldman Sachs Group upped their target price on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. BMO Capital Markets began coverage on Tanger in a research note on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price objective on the stock. Compass Point lifted their target price on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America raised Tanger from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.00 to $40.00 in a research report on Monday, November 11th. Finally, Evercore ISI lifted their price objective on shares of Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Tanger has an average rating of “Hold” and a consensus target price of $36.00.
Tanger Trading Up 2.7 %
Shares of NYSE SKT opened at $34.21 on Thursday. Tanger Inc. has a 12-month low of $25.74 and a 12-month high of $37.57. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 39.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.91. 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 stock’s 50 day simple moving average is $34.25 and its 200 day simple moving average is $32.76.
Tanger (NYSE:SKT – Get Free Report) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). The company had revenue of $133.00 million during the quarter, compared to the consensus estimate of $125.80 million. Tanger had a net margin of 18.55% and a return on equity of 16.25%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. Equities research analysts expect that Tanger Inc. will post 2.11 EPS for the current year.
Tanger Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.275 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.22%. Tanger’s dividend payout ratio is presently 127.91%.
Insider Buying and Selling at Tanger
In other Tanger 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 transaction of $108,810.00. Following the sale, the chief accounting officer now owns 59,641 shares of the company’s stock, valued at $2,163,179.07. The trade was a 4.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.80% of the stock is currently owned by company insiders.
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.
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