Tanger Inc. (NYSE:SKT) Shares Bought by KBC Group NV

KBC Group NV lifted its holdings in shares of Tanger Inc. (NYSE:SKT) by 21.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,474 shares of the real estate investment trust’s stock after buying an additional 795 shares during the period. KBC Group NV’s holdings in Tanger were worth $153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its position in shares of Tanger by 32.2% during 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 purchasing an additional 1,832,261 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 in the last quarter. Algert Global LLC grew its holdings in Tanger by 183.7% during the third quarter. Algert Global LLC now owns 243,623 shares of the real estate investment trust’s stock worth $8,083,000 after acquiring an additional 157,742 shares during the period. Barclays PLC raised its position in Tanger by 174.7% in the third quarter. Barclays PLC now owns 240,281 shares of the real estate investment trust’s stock worth $7,973,000 after acquiring an additional 152,796 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Tanger by 13.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 418,712 shares of the real estate investment trust’s stock valued at $13,893,000 after acquiring an additional 50,100 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the 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 directly owns 59,641 shares of the company’s stock, valued at approximately $2,163,179.07. This represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.80% of the company’s stock.

Tanger Stock Down 0.7 %

Tanger stock opened at $34.04 on Friday. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 2.72 and a beta of 1.91. The company’s 50 day simple moving average is $34.25 and its 200 day simple moving average is $32.76. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. Tanger Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $37.57.

Tanger (NYSE:SKT) last issued its quarterly earnings results 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). Tanger had a net margin of 18.55% and a return on equity of 16.25%. The firm had revenue of $133.00 million during the quarter, compared to the consensus estimate of $125.80 million. During the same quarter last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Tanger Inc. will post 2.11 EPS for the current year.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, January 31st. Tanger’s dividend payout ratio (DPR) is presently 127.91%.

Analysts Set New Price Targets

Several research firms have issued reports on SKT. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target on the stock. Bank of America raised Tanger from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Citigroup increased their price target on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI boosted their price objective on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Compass Point raised their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.00.

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.