Thrivent Financial for Lutherans Acquires 138,456 Shares of Tanger Inc. (NYSE:SKT)

Thrivent Financial for Lutherans boosted its holdings in Tanger Inc. (NYSE:SKT) by 33.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 557,168 shares of the real estate investment trust’s stock after acquiring an additional 138,456 shares during the period. Thrivent Financial for Lutherans owned 0.50% of Tanger worth $19,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Tanger by 32.2% during the 3rd quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock worth $249,625,000 after buying an additional 1,832,261 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tanger by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,997,100 shares of the real estate investment trust’s stock worth $68,161,000 after acquiring an additional 31,750 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 acquiring an additional 616,417 shares during the period. Principal Financial Group Inc. grew its position in shares of Tanger by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 601,266 shares of the real estate investment trust’s stock valued at $20,521,000 after purchasing an additional 30,618 shares during the last quarter. Finally, Fisher Asset Management LLC increased 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 purchasing an additional 7,998 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SKT. Deutsche Bank Aktiengesellschaft began coverage on Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price objective on the stock. BMO Capital Markets assumed coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tanger currently has a consensus rating of “Hold” and an average price target of $36.00.

Tanger Stock Down 1.1 %

SKT stock opened at $31.87 on Friday. The company has a market cap of $3.59 billion, a PE ratio of 36.63, a price-to-earnings-growth 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 52 week low of $25.94 and a 52 week high of $37.57. The business has a 50-day simple moving average of $33.65 and a 200 day simple moving average of $33.92.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company 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%. Sell-side analysts anticipate that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued 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 dividend yield of 3.45%. Tanger’s dividend payout ratio (DPR) is currently 126.44%.

Insider Buying and Selling

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 113,158 shares in the company, valued at $3,664,056.04. This represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is owned by corporate insiders.

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.