Commonwealth Equity Services LLC Has $1.45 Million Holdings in Tanger Inc. (NYSE:SKT)

Commonwealth Equity Services LLC lifted its stake in Tanger Inc. (NYSE:SKT) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,571 shares of the real estate investment trust’s stock after acquiring an additional 1,258 shares during the period. Commonwealth Equity Services LLC’s holdings in Tanger were worth $1,453,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SKT. Mutual of America Capital Management LLC increased its stake in Tanger by 1.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 319 shares during the period. DAVENPORT & Co LLC grew its holdings in shares of 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 in the last quarter. GAMMA Investing LLC increased its position 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 purchasing an additional 514 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of 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 purchasing an additional 583 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in Tanger by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the real estate investment trust’s stock worth $1,826,000 after purchasing an additional 600 shares during the period. Institutional investors own 85.23% of the company’s stock.

Tanger Trading Up 0.0 %

Shares of SKT stock opened at $32.88 on Friday. The company has a market capitalization of $3.71 billion, a P/E ratio of 37.79, a P/E/G ratio of 2.97 and a beta of 1.88. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $33.64 and a 200 day moving average price of $34.02.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $132.17 million during the quarter, compared to analyst estimates of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. Research analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The firm 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 dividend payout ratio is currently 126.44%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target on the stock. BMO Capital Markets began coverage on shares of Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 target price on the stock. Finally, The Goldman Sachs Group upgraded shares of Tanger from a “neutral” rating to a “buy” rating and raised their price target for the stock from $39.00 to $40.00 in a research note on Friday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tanger presently has a consensus rating of “Moderate Buy” and an average target price of $36.63.

Insider Transactions at Tanger

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.80% of the company’s stock.

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.