Thrivent Financial for Lutherans Has $19.02 Million Stock Holdings in Tanger Inc. (NYSE:SKT)

Thrivent Financial for Lutherans increased its position in Tanger Inc. (NYSE:SKT) by 33.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 557,168 shares of the real estate investment trust’s stock after acquiring an additional 138,456 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Tanger were worth $19,016,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SKT. KBC Group NV raised its stake in shares of Tanger by 31.5% during the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 881 shares during the last quarter. Natixis Advisors LLC raised its position in Tanger by 55.3% during the 3rd 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. Intech Investment Management LLC grew its position in shares of Tanger by 61.7% in the 3rd quarter. Intech Investment Management LLC now owns 39,810 shares of the real estate investment trust’s stock valued at $1,321,000 after buying an additional 15,197 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Tanger by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 354,990 shares of the real estate investment trust’s stock valued at $11,779,000 after buying an additional 8,808 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tanger by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock worth $65,210,000 after acquiring an additional 21,793 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

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

Tanger Stock Down 1.1 %

Shares of NYSE SKT opened at $31.87 on Friday. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The firm has a market cap of $3.59 billion, a PE ratio of 36.63, a P/E/G ratio of 2.97 and a beta of 1.88. The company’s fifty day simple moving average is $33.65 and its 200 day simple moving average is $33.92.

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 company had revenue of $132.17 million for the quarter, compared to analysts’ expectations of $129.10 million. As a group, sell-side analysts forecast 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. 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 annualized dividend and a dividend yield of 3.45%. Tanger’s dividend payout ratio is 126.44%.

Insider Transactions at Tanger

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.80% of the stock is owned by insiders.

Tanger Company 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.