Natixis Advisors LLC Sells 24,481 Shares of Tanger Inc. (NYSE:SKT)

Natixis Advisors LLC cut its position in Tanger Inc. (NYSE:SKT) by 33.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,650 shares of the real estate investment trust’s stock after selling 24,481 shares during the quarter. Natixis Advisors LLC’s holdings in Tanger were worth $1,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SKT. Mutual of America Capital Management LLC boosted its position in shares of Tanger by 1.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 319 shares during the period. DAVENPORT & Co LLC boosted its holdings in Tanger by 1.4% in the 4th quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 425 shares during the period. GAMMA Investing LLC grew its position in shares of Tanger by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 514 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Tanger by 12.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 583 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Tanger by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the real estate investment trust’s stock valued at $1,826,000 after buying an additional 600 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SKT has been the topic of a number of analyst reports. BMO Capital Markets started coverage on Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a research report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Tanger presently has an average rating of “Hold” and a consensus target price of $36.00.

Tanger Stock Performance

Tanger stock opened at $33.37 on Tuesday. The stock has a market cap of $3.76 billion, a PE ratio of 38.35, a P/E/G ratio of 2.97 and a beta of 1.88. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. The business’s 50-day moving average price is $33.65 and its two-hundred day moving average price is $33.99.

Tanger (NYSE:SKT) last released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The business had revenue of $132.17 million during the quarter, compared to analysts’ expectations of $129.10 million. As a group, analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.30%. Tanger’s dividend payout ratio is currently 126.44%.

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total transaction of $404,750.00. Following the sale, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.80% of the company’s stock.

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.