Yousif Capital Management LLC Has $1.43 Million Stake in Tanger Inc. (NYSE:SKT)

Yousif Capital Management LLC lowered its holdings in Tanger Inc. (NYSE:SKT) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,007 shares of the real estate investment trust’s stock after selling 330 shares during the quarter. Yousif Capital Management LLC’s holdings in Tanger were worth $1,434,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P lifted its position in Tanger by 3,393.9% during the 3rd 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 lifted its position in shares of Tanger by 62.0% during the third quarter. GAMMA Investing LLC now owns 2,064 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 790 shares in the last quarter. KBC Group NV lifted its position in shares of Tanger by 31.5% during the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 881 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tanger by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Tanger in the 3rd quarter worth approximately $151,000. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Up 1.1 %

Tanger stock opened at $33.61 on Thursday. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 2.82 and a beta of 1.91. The company’s 50 day simple moving average is $33.90 and its 200 day simple moving average is $32.94. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57.

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Friday, January 31st. Tanger’s dividend payout ratio (DPR) is 127.91%.

Insider Activity at Tanger

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly 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 filing with the SEC, which is accessible through this link. 5.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SKT has been the subject of several research reports. Bank of America raised Tanger from a “neutral” rating to a “buy” rating and lifted their target price for the company from $35.00 to $40.00 in a research note on Monday, November 11th. Evercore ISI lifted their price objective on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. BMO Capital Markets began coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Citigroup increased their price objective on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.00.

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.