Tanger Inc. (NYSE:SKT) Holdings Boosted by Barclays PLC

Barclays PLC grew its holdings in Tanger Inc. (NYSE:SKT) by 174.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,281 shares of the real estate investment trust’s stock after purchasing an additional 152,796 shares during the period. Barclays PLC owned approximately 0.22% of Tanger worth $7,973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SKT. CWM LLC lifted its stake in Tanger by 418.6% in the 2nd quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,398 shares in the last quarter. Blue Trust Inc. lifted its position 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 in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Tanger by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 181,338 shares of the real estate investment trust’s stock worth $4,916,000 after purchasing an additional 1,485 shares during the period. 1620 Investment Advisors Inc. grew its position in Tanger by 45.6% during the second quarter. 1620 Investment Advisors Inc. now owns 10,268 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 3,217 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Tanger by 3.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 55,000 shares of the real estate investment trust’s stock valued at $1,491,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 59,641 shares in the company, valued at $2,163,179.07. This represents a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.80% of the stock is owned by insiders.

Tanger Stock Down 0.3 %

SKT opened at $35.41 on Wednesday. The firm has a market cap of $3.92 billion, a P/E ratio of 41.07, a price-to-earnings-growth ratio of 2.78 and a beta of 1.90. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. The business has a 50 day moving average price of $35.17 and a 200 day moving average price of $31.11. Tanger Inc. has a twelve month low of $25.67 and a twelve month high of $37.57.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $125.80 million. Tanger had a return on equity of 16.25% and a net margin of 18.55%. Tanger’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Research analysts forecast that Tanger Inc. will post 2.11 EPS for the current year.

Tanger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.275 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.11%. Tanger’s payout ratio is presently 127.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Compass Point boosted their target price on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price target on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. 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 research note on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Tanger in a research report on Tuesday. They set a “hold” rating and a $37.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.13.

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.