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

Dimensional Fund Advisors LP reduced its stake in Tanger Inc. (NYSE:SKT - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 approximately 1.40% of Tanger worth $53,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC lifted 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 buying an additional 1,873,835 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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. Charles Schwab Investment Management Inc. boosted its position in shares of Tanger by 1.6% in 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 period. Invesco Ltd. increased its stake in shares of Tanger by 9.5% in the fourth quarter. Invesco Ltd. now owns 895,466 shares of the real estate investment trust's stock worth $30,562,000 after purchasing an additional 78,014 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Tanger by 5.7% during the 4th quarter. Renaissance Technologies LLC now owns 818,672 shares of the real estate investment trust's stock valued at $27,941,000 after purchasing an additional 44,265 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Trading Down 0.3 %

Shares of SKT opened at $29.85 on Friday. The stock has a market capitalization of $3.38 billion, a PE ratio of 34.31, a P/E/G ratio of 2.97 and a beta of 1.49. The company's fifty day moving average is $32.47 and its 200 day moving average is $33.83. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $129.29 million for the quarter, compared to analysts' expectations of $128.24 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The business's revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. Sell-side analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a $0.2925 dividend. This is a boost from Tanger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.92%. Tanger's payout ratio is 139.29%.

Insider Activity

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value of $404,750.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upgraded Tanger from a "neutral" rating to a "buy" rating and increased their price target for the stock from $39.00 to $40.00 in a research note on Friday, March 28th. Scotiabank decreased their target price on Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Finally, 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 target for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.