Ibex Wealth Advisors Acquires New Shares in Tanger Inc. (NYSE:SKT)

Ibex Wealth Advisors bought a new position in Tanger Inc. (NYSE:SKT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,467 shares of the real estate investment trust’s stock, valued at approximately $733,000.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV grew its position in shares of Tanger by 21.6% during the fourth quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 795 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in 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 valued at $175,000 after purchasing an additional 583 shares during the period. ARS Investment Partners LLC bought a new position in Tanger in the 4th quarter worth about $555,000. HB Wealth Management LLC increased its stake in shares of Tanger by 19.9% in the fourth quarter. HB Wealth Management LLC now owns 8,425 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 1,399 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Tanger by 36.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,045 shares of the real estate investment trust’s stock valued at $582,000 after buying an additional 4,549 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger 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 transaction, the chief accounting officer now directly owns 59,641 shares in the company, valued at approximately $2,163,179.07. The trade was a 4.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.80% of the stock is currently owned by company insiders.

Tanger Price Performance

Shares of NYSE SKT opened at $32.77 on Thursday. Tanger Inc. has a twelve month low of $25.67 and a twelve month high of $37.57. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The firm has a 50-day moving average of $34.59 and a two-hundred day moving average of $32.58. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 2.71 and a beta of 1.92.

Tanger (NYSE:SKT) last issued its earnings results 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). Tanger had a return on equity of 16.25% and a net margin of 18.55%. The business had revenue of $133.00 million for the quarter, compared to the consensus estimate of $125.80 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, analysts expect that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.36%. Tanger’s dividend payout ratio is currently 127.91%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SKT. BMO Capital Markets started coverage on Tanger in a report on Tuesday. They issued a “market perform” rating and a $36.00 price objective for the company. Evercore ISI increased their price target on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Citigroup lifted their price objective 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price for the company. Finally, Compass Point raised their target price on shares of Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.00.

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.