Natixis Advisors LLC Buys 25,683 Shares of Tanger Inc. (NYSE:SKT)

Natixis Advisors LLC increased its stake in Tanger Inc. (NYSE:SKT) by 55.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,131 shares of the real estate investment trust’s stock after acquiring an additional 25,683 shares during the period. Natixis Advisors LLC owned about 0.07% of Tanger worth $2,393,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. American International Group Inc. grew its holdings in Tanger by 1.5% in the 1st quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock worth $1,671,000 after acquiring an additional 813 shares during the last quarter. BOKF NA increased its position in shares of Tanger by 71.6% during the first quarter. BOKF NA now owns 4,884 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 2,038 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Tanger by 2.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,197 shares of the real estate investment trust’s stock worth $1,808,000 after purchasing an additional 1,752 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Tanger by 1.5% in the first quarter. Public Employees Retirement System of Ohio now owns 155,134 shares of the real estate investment trust’s stock worth $4,581,000 after purchasing an additional 2,284 shares in the last quarter. Finally, Hancock Whitney Corp lifted its position in Tanger by 46.8% during the 1st quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust’s stock valued at $2,116,000 after acquiring an additional 22,859 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Price Performance

NYSE:SKT opened at $36.49 on Monday. The business’s 50-day moving average is $33.93 and its 200 day moving average is $30.13. Tanger Inc. has a 12 month low of $24.72 and a 12 month high of $37.01. The company has a market capitalization of $4.04 billion, a P/E ratio of 42.43, a P/E/G ratio of 2.87 and a beta of 1.88. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40.

Tanger (NYSE:SKT) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). The business had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $125.80 million. Tanger had a net margin of 18.55% and a return on equity of 16.25%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. On average, equities research analysts forecast that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Thursday, October 31st. Tanger’s dividend payout ratio is 127.91%.

Insider Buying and Selling

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total transaction 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 $2,163,179.07. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SKT shares. Compass Point lifted their price target on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their price target on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Evercore ISI lifted their price target on shares of Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Scotiabank upped their price target on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Bank of America raised Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $40.00 in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Tanger currently has a consensus rating of “Moderate Buy” and an average price target of $34.86.

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.