Quantbot Technologies LP Acquires 32,824 Shares of Tanger Inc. (NYSE:SKT)

Quantbot Technologies LP lifted its position in shares of Tanger Inc. (NYSE:SKT) by 50.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,090 shares of the real estate investment trust’s stock after purchasing an additional 32,824 shares during the period. Quantbot Technologies LP owned about 0.09% of Tanger worth $3,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Tanger by 32.2% during the third quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock worth $249,625,000 after purchasing an additional 1,832,261 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 purchasing an additional 31,750 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 purchasing an additional 616,417 shares during the last quarter. Principal Financial Group Inc. lifted its stake 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 worth $20,521,000 after acquiring an additional 30,618 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Tanger by 33.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 557,168 shares of the real estate investment trust’s stock worth $19,016,000 after acquiring an additional 138,456 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Tanger Price Performance

Shares of SKT opened at $31.87 on Friday. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44. The business’s 50 day moving average price is $33.65 and its two-hundred day moving average price is $33.95. The firm 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.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The firm had revenue of $132.17 million for the quarter, compared to analyst estimates of $129.10 million. On average, equities analysts anticipate that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Friday, January 31st. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

Insider Buying and Selling at Tanger

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the transaction, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.80% of the company’s stock.

Wall Street Analyst Weigh In

SKT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a research note on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price objective on the stock. BMO Capital Markets initiated coverage on Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Tanger presently has an average rating of “Hold” and an average target price of $36.00.

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.