Quantbot Technologies LP Cuts Stock Holdings in Tanger Inc. (NYSE:SKT)

Quantbot Technologies LP lowered its stake in Tanger Inc. (NYSE:SKT) by 21.3% during the 3rd quarter, Holdings Channel reports. The firm owned 65,266 shares of the real estate investment trust’s stock after selling 17,644 shares during the quarter. Quantbot Technologies LP’s holdings in Tanger were worth $2,166,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Natixis Advisors LLC increased its holdings in shares of Tanger by 55.3% in the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock worth $2,393,000 after purchasing an additional 25,683 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Tanger by 13.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,549 shares of the real estate investment trust’s stock valued at $10,536,000 after buying an additional 38,036 shares in the last quarter. Bailard Inc. increased its stake in Tanger by 64.4% in the 2nd quarter. Bailard Inc. now owns 24,500 shares of the real estate investment trust’s stock worth $664,000 after acquiring an additional 9,600 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Tanger by 42.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 368,612 shares of the real estate investment trust’s stock worth $9,993,000 after acquiring an additional 109,388 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Tanger by 44.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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 on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total transaction of $108,810.00. Following the transaction, the chief accounting officer now directly owns 59,641 shares in the company, valued at $2,163,179.07. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.80% of the stock is currently owned by company insiders.

Tanger Stock Up 0.6 %

Shares of NYSE SKT opened at $37.10 on Friday. The company has a market cap of $4.11 billion, a P/E ratio of 43.14, a PEG ratio of 2.87 and a beta of 1.88. The firm has a 50-day simple moving average of $34.25 and a two-hundred day simple moving average of $30.30. Tanger Inc. has a 1 year low of $24.72 and a 1 year high of $37.49. 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 (NYSE:SKT) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). Tanger had a net margin of 18.55% and a return on equity of 16.25%. The business had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $125.80 million. During the same quarter in the previous year, the firm earned $0.50 EPS. Tanger’s revenue was up 13.3% compared to the same quarter last year. Research analysts anticipate that Tanger Inc. will post 2.11 earnings per share for the current year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.96%. The ex-dividend date was Thursday, October 31st. Tanger’s dividend payout ratio is presently 127.91%.

Wall Street Analyst Weigh In

SKT has been the topic of several research reports. Compass Point boosted their price target 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. The Goldman Sachs Group boosted their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Scotiabank increased their price target on shares of Tanger from $28.00 to $30.00 and gave the company 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 objective for the stock from $35.00 to $40.00 in a research note on Monday, November 11th. Finally, Evercore ISI raised their price objective on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.86.

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.