Smartleaf Asset Management LLC Has $95,000 Holdings in Tanger Inc. (NYSE:SKT)

Smartleaf Asset Management LLC lifted its stake in shares of Tanger Inc. (NYSE:SKT) by 415.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,790 shares of the real estate investment trust’s stock after purchasing an additional 2,249 shares during the period. Smartleaf Asset Management LLC’s holdings in Tanger were worth $95,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. FMR LLC lifted its position in shares of Tanger by 32.2% during the third quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock worth $249,625,000 after purchasing an additional 1,832,261 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tanger by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock worth $65,210,000 after purchasing an additional 21,793 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tanger by 387.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust’s stock worth $25,728,000 after purchasing an additional 616,417 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Tanger by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 601,266 shares of the real estate investment trust’s stock worth $20,521,000 after buying an additional 30,618 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Tanger by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 511,051 shares of the real estate investment trust’s stock worth $17,442,000 after buying an additional 7,998 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SKT. Citigroup boosted their price target on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 price target for the company. BMO Capital Markets began coverage on shares of Tanger in a research note on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target for the company. The Goldman Sachs Group boosted their price target on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $40.00 in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Tanger Stock Down 1.5 %

Shares of NYSE:SKT opened at $33.63 on Friday. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44. The company has a market capitalization of $3.79 billion, a PE ratio of 38.66, a PEG ratio of 2.97 and a beta of 1.88. The company has a 50 day moving average price of $33.90 and a two-hundred day moving average price of $33.74.

Tanger (NYSE:SKT) last issued its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $132.17 million during the quarter, compared to the consensus estimate of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. Analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were 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 was Friday, January 31st. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

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.