Thomas Joseph Guerrieri, Jr. Sells 3,000 Shares of Tanger Inc. (NYSE:SKT) Stock

Tanger Inc. (NYSE:SKT) CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total transaction of $108,810.00. Following the sale, 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 legal filing with the SEC, which is available at this hyperlink.

Tanger Price Performance

SKT stock opened at $36.67 on Friday. The company has a market capitalization of $4.06 billion, a P/E ratio of 42.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.88. Tanger Inc. has a 52-week low of $24.72 and a 52-week high of $36.81. The business has a 50-day simple moving average of $33.73 and a two-hundred day simple moving average of $29.99. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13.

Tanger (NYSE:SKT) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.31). Tanger had a net margin of 18.55% and a return on equity of 16.25%. The company had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $125.80 million. During the same period in the previous year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. Research analysts expect that Tanger Inc. will post 2.11 EPS for the current fiscal year.

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, October 31st. Tanger’s payout ratio is currently 127.91%.

Analyst Ratings Changes

SKT has been the topic of a number of research reports. Scotiabank boosted their price objective on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Citigroup raised their price objective on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Compass Point boosted their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $40.00 in a research note on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price objective on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.86.

Institutional Investors Weigh In On Tanger

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKT. GAMMA Investing LLC raised its position in Tanger by 44.6% in the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 393 shares during the period. EMC Capital Management raised its stake in Tanger by 5.1% in the 1st quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock valued at $422,000 after acquiring an additional 697 shares during the period. American International Group Inc. lifted its holdings in Tanger by 1.5% during the first quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock valued at $1,671,000 after purchasing an additional 813 shares during the last quarter. Blue Trust Inc. boosted its position in Tanger by 1,412.1% during the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 819 shares during the period. Finally, KBC Group NV raised its position in shares of Tanger by 31.5% in the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 881 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

About Tanger

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.