Stifel Financial Corp Increases Position in Tanger Inc. (NYSE:SKT)

Stifel Financial Corp increased its position in Tanger Inc. (NYSE:SKT) by 48.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,402 shares of the real estate investment trust’s stock after acquiring an additional 22,002 shares during the period. Stifel Financial Corp owned approximately 0.06% of Tanger worth $2,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Tanger by 1,412.1% in the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 819 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Tanger during the 2nd quarter worth approximately $27,000. Whittier Trust Co. acquired a new stake in Tanger during the 2nd quarter valued at approximately $33,000. Loomis Sayles & Co. L P boosted its holdings in shares of Tanger by 3,393.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,663 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tanger in the second quarter worth $49,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

SKT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research report on Tuesday. They set a “hold” rating and a $37.00 target price for the company. Evercore ISI upped their target price on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Scotiabank raised their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Bank of America raised Tanger from a “neutral” rating to a “buy” rating and boosted their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. Finally, Compass Point raised their price objective on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.00.

Tanger Stock Down 0.7 %

Tanger stock opened at $34.35 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $3.80 billion, a PE ratio of 39.94, a price-to-earnings-growth ratio of 2.78 and a beta of 1.90. The business has a 50 day simple moving average of $35.25 and a 200-day simple moving average of $31.21. Tanger Inc. has a 12 month low of $25.67 and a 12 month 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 the consensus estimate of $0.53 by ($0.31). The company had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $125.80 million. Tanger had a return on equity of 16.25% and a net margin of 18.55%. Tanger’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. On average, analysts anticipate that Tanger Inc. will post 2.11 EPS for the current fiscal year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, October 31st. Tanger’s payout ratio is 127.91%.

Insiders Place Their Bets

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total value of $108,810.00. Following the transaction, the chief accounting officer now owns 59,641 shares in the company, valued at approximately $2,163,179.07. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.80% of the stock is owned by company insiders.

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.