145,675 Shares in Tanger Inc. (NYSE:SKT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Tanger Inc. (NYSE:SKT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 145,675 shares of the real estate investment trust’s stock, valued at approximately $4,972,000. Raymond James Financial Inc. owned 0.13% of Tanger at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SKT. Loomis Sayles & Co. L P raised its stake in Tanger by 3,393.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,663 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Tanger by 24.9% during the 4th 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 period. Smartleaf Asset Management LLC raised its position 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 acquiring an additional 2,249 shares in the last quarter. KBC Group NV raised its holdings in Tanger by 21.6% in the fourth 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. Finally, Truvestments Capital LLC purchased a new position in Tanger during the third quarter valued at $160,000. 85.23% of the stock is currently owned by institutional investors.

Tanger Trading Down 1.6 %

Tanger stock opened at $32.87 on Wednesday. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 37.78, a P/E/G ratio of 2.97 and a beta of 1.88. The firm has a 50 day moving average of $33.65 and a 200 day moving average of $33.99. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $132.17 million during the quarter, compared to analysts’ expectations of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. As a group, research analysts predict that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Friday, January 31st. Tanger’s payout ratio is 126.44%.

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the transaction, the chief operating officer now owns 113,158 shares in the company, valued at $3,664,056.04. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tanger in a research report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price target for the company. BMO Capital Markets started coverage on Tanger in a research report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target on the stock. Five investment 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, Tanger currently has a consensus rating of “Hold” and an average target price of $36.00.

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.