Dimensional Fund Advisors LP Sells 19,510 Shares of Tanger Inc. (NYSE:SKT)

Dimensional Fund Advisors LP lowered its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,553,855 shares of the real estate investment trust's stock after selling 19,510 shares during the quarter. Dimensional Fund Advisors LP owned about 1.40% of Tanger worth $53,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd lifted its holdings in shares of Tanger by 232.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust's stock worth $36,000 after buying an additional 733 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Tanger by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after purchasing an additional 514 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Tanger by 415.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock valued at $95,000 after buying an additional 2,249 shares during the last quarter. FIL Ltd lifted its stake in shares of Tanger by 16.2% in the fourth quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust's stock valued at $98,000 after buying an additional 401 shares during the period. Finally, KBC Group NV grew its position in Tanger by 21.6% during the fourth quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust's stock worth $153,000 after buying an additional 795 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Tanger Price Performance

SKT traded down $0.21 during trading on Thursday, hitting $29.58. The company's stock had a trading volume of 65,257 shares, compared to its average volume of 787,128. 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 stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18. The firm's 50 day moving average price is $32.13 and its two-hundred day moving average price is $33.73. Tanger Inc. has a 12 month low of $25.94 and a 12 month high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $129.29 million for 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%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Sell-side analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, April 30th. This is a boost from Tanger's previous quarterly dividend of $0.28. Tanger's payout ratio is 139.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SKT shares. BMO Capital Markets assumed coverage on shares of Tanger in a research note on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price target on the stock. Scotiabank lowered their target price on shares of Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Evercore ISI upgraded shares of Tanger to a "hold" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group upgraded Tanger from a "neutral" rating to a "buy" rating and upped their price objective for the company from $39.00 to $40.00 in a research note on Friday, March 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Tanger has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the company'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 transaction, the chief operating officer now directly owns 113,158 shares in the company, valued at approximately $3,664,056.04. This represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.70% 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.