New Age Alpha Advisors LLC Invests $1.65 Million in Tanger Inc. (NYSE:SKT)

New Age Alpha Advisors LLC acquired a new stake in shares of Tanger Inc. (NYSE:SKT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 48,205 shares of the real estate investment trust’s stock, valued at approximately $1,645,000.

A number of other large investors have also added to or reduced their stakes in SKT. Norges Bank bought a new position in shares of Tanger during the fourth quarter valued at $22,239,000. JPMorgan Chase & Co. increased its stake in Tanger by 46.1% during the 4th quarter. JPMorgan Chase & Co. now owns 650,060 shares of the real estate investment trust’s stock valued at $22,187,000 after purchasing an additional 205,159 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Tanger by 3.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 73,004 shares of the real estate investment trust’s stock worth $2,512,000 after buying an additional 2,705 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in shares of Tanger by 56.9% in the fourth quarter. Fox Run Management L.L.C. now owns 22,429 shares of the real estate investment trust’s stock worth $766,000 after buying an additional 8,135 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Tanger during the fourth quarter valued at approximately $754,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Trading Up 0.0 %

Shares of SKT stock opened at $32.88 on Monday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 2.97 and a beta of 1.88. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57. The firm has a fifty day moving average price of $33.64 and a 200-day moving average price of $34.02.

Tanger (NYSE:SKT) last released 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 business had revenue of $132.17 million during the quarter, compared to analyst estimates of $129.10 million. As a group, equities analysts predict that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Friday, January 31st. Tanger’s dividend payout ratio (DPR) is 126.44%.

Wall Street Analyst Weigh In

SKT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price objective for the company. The Goldman Sachs Group raised shares of Tanger from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $39.00 to $40.00 in a research report on Friday. Finally, BMO Capital Markets began coverage on Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.63.

Insider Activity

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value of $404,750.00. Following the transaction, the chief operating officer now owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.80% of the company’s stock.

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.