BNP Paribas Financial Markets Purchases 9,891 Shares of Tanger Inc. (NYSE:SKT)

BNP Paribas Financial Markets boosted its position in shares of Tanger Inc. (NYSE:SKT) by 21.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,645 shares of the real estate investment trust’s stock after acquiring an additional 9,891 shares during the quarter. BNP Paribas Financial Markets owned 0.05% of Tanger worth $1,879,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 393 shares during the period. Blue Trust Inc. raised its stake in Tanger by 1,412.1% in the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 819 shares during the period. KBC Group NV lifted its position in shares of Tanger by 31.5% in the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 881 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Tanger by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 30,491 shares of the real estate investment trust’s stock worth $827,000 after acquiring an additional 897 shares during the period. Finally, Inspire Investing LLC increased its holdings in shares of Tanger by 7.7% during the 2nd quarter. Inspire Investing LLC now owns 13,034 shares of the real estate investment trust’s stock worth $353,000 after acquiring an additional 931 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SKT. Compass Point lifted their price objective on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Evercore ISI upped their price target on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Citigroup raised their price objective on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their target price on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, Scotiabank lifted their price target on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.86.

Tanger Stock Up 0.3 %

NYSE SKT opened at $36.30 on Friday. 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 company has a market cap of $4.02 billion, a price-to-earnings ratio of 42.21, a PEG ratio of 2.88 and a beta of 1.90. The company has a 50 day moving average of $34.86 and a 200-day moving average of $30.73. Tanger Inc. has a 1-year low of $25.67 and a 1-year high of $37.57.

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

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.275 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.03%. Tanger’s dividend payout ratio is 127.91%.

Insider Activity at Tanger

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business’s 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 sale, the chief accounting officer now owns 59,641 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. 5.80% of the stock is currently owned by insiders.

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.