Mercer Global Advisors Inc. ADV Acquires Shares of 15,582 Tanger Inc. (NYSE:SKT)

Mercer Global Advisors Inc. ADV bought a new position in shares of Tanger Inc. (NYSE:SKT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,582 shares of the real estate investment trust's stock, valued at approximately $532,000.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Tanger by 24.9% during the 4th quarter. FMR LLC now owns 9,397,189 shares of the real estate investment trust's stock valued at $320,726,000 after acquiring an additional 1,873,835 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Tanger by 34.0% during the fourth quarter. Wellington Management Group LLP now owns 2,748,467 shares of the real estate investment trust's stock valued at $93,805,000 after purchasing an additional 697,291 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Tanger by 56.4% during the fourth quarter. Northern Trust Corp now owns 1,817,052 shares of the real estate investment trust's stock valued at $62,016,000 after purchasing an additional 655,237 shares in the last quarter. Norges Bank bought a new position in Tanger in the fourth quarter valued at about $22,239,000. Finally, APG Asset Management US Inc. purchased a new stake in Tanger in the fourth quarter worth about $20,955,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore ISI raised Tanger to a "hold" rating in a research note on Friday, May 2nd. The Goldman Sachs Group raised Tanger from a "neutral" rating to a "buy" rating and raised their target price for the stock from $39.00 to $40.00 in a report on Friday, March 28th. BMO Capital Markets began coverage on Tanger in a research report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 target price on the stock. Finally, Scotiabank cut their target price on Tanger from $38.00 to $33.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Insider Activity

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm'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 value 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 approximately $3,664,056.04. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

Tanger Trading Up 2.1%

SKT traded up $0.64 during mid-day trading on Friday, hitting $31.22. The stock had a trading volume of 737,108 shares, compared to its average volume of 800,300. The stock's fifty day simple moving average is $31.64 and its 200-day simple moving average is $33.57. 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 firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 35.89, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $129.29 million during the quarter, compared to the consensus estimate of $128.24 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. Tanger's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, research analysts forecast that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.2925 per share. This is an increase from Tanger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.17 annualized dividend and a yield of 3.75%. Tanger's dividend payout ratio is presently 139.29%.

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.