Tanger Inc. (NYSE:SKT) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG lifted its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 61.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,294 shares of the real estate investment trust's stock after purchasing an additional 67,740 shares during the period. Deutsche Bank AG owned 0.16% of Tanger worth $6,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SKT. FMR LLC boosted its holdings 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 worth $320,726,000 after purchasing an additional 1,873,835 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Tanger by 34.0% in 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 acquiring an additional 697,291 shares during the last quarter. Northern Trust Corp lifted its holdings in Tanger by 56.4% in 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 acquiring an additional 655,237 shares during the last quarter. Norges Bank acquired a new position in Tanger in the fourth quarter valued at approximately $22,239,000. Finally, APG Asset Management US Inc. acquired a new position in Tanger in the fourth quarter valued at approximately $20,955,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tanger

In other 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 transaction of $404,750.00. Following the completion of the sale, the chief operating officer now owns 113,158 shares in the company, valued at approximately $3,664,056.04. This represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SKT shares. Scotiabank decreased their price objective on Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. BMO Capital Markets started coverage on Tanger in a report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price objective on the stock. Evercore ISI upgraded Tanger to a "hold" rating in a report 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 report on Friday, March 28th. 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.

Tanger Stock Down 1.5%

NYSE:SKT traded down $0.45 during trading hours on Friday, hitting $28.81. The company's stock had a trading volume of 979,532 shares, compared to its average volume of 802,578. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The stock has a market capitalization of $3.26 billion, a P/E ratio of 33.12, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18. The stock has a fifty day moving average of $31.41 and a 200-day moving average of $33.44.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings data 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. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The company had revenue of $129.29 million during the quarter, compared to the consensus estimate of $128.24 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Tanger's revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, April 30th. This is an increase from Tanger's previous quarterly dividend of $0.28. Tanger's dividend payout ratio is currently 139.29%.

Tanger Company 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.