Deutsche Bank AG Has $6.09 Million Stake in Tanger Inc. (NYSE:SKT)

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

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC lifted its position in shares of Tanger by 1.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust's stock worth $572,000 after purchasing an additional 319 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Tanger by 0.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust's stock worth $1,272,000 after purchasing an additional 349 shares during the last quarter. FIL Ltd lifted its holdings in Tanger by 16.2% during the 4th quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust's stock worth $98,000 after buying an additional 401 shares in the last quarter. DAVENPORT & Co LLC boosted its position in Tanger by 1.4% in the 4th quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust's stock valued at $1,074,000 after buying an additional 425 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in Tanger by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 32,851 shares of the real estate investment trust's stock valued at $1,121,000 after buying an additional 480 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Tanger Trading Down 2.8%

Shares of Tanger stock traded down $0.87 during trading on Wednesday, hitting $29.63. 485,404 shares of the company were exchanged, compared to its average volume of 797,920. 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 $3.35 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18. The firm's fifty day moving average price is $31.59 and its 200 day moving average price is $33.53. 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 released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $129.29 million for the quarter, compared to analyst estimates of $128.24 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. Tanger's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. As a group, sell-side analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a $0.2925 dividend. This is a positive change 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 dividend yield of 3.95%. Tanger's payout ratio is 139.29%.

Insider Activity

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was 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. The trade was a 9.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is owned by company insiders.

Analyst Ratings Changes

SKT has been the subject of a number of recent research reports. BMO Capital Markets assumed coverage on Tanger in a research report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 target price for the company. Evercore ISI raised Tanger to a "hold" rating in a report on Friday, May 2nd. Scotiabank cut 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 report on Wednesday, April 23rd. Finally, The Goldman Sachs Group raised shares of Tanger from a "neutral" rating to a "buy" rating and raised their target price 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 issued a buy rating to the stock. According to data from MarketBeat, Tanger currently has an average rating of "Moderate Buy" and a consensus 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.