Monument Capital Management Acquires Shares of 10,401 Tanger Inc. (NYSE:SKT)

Monument Capital Management acquired a new stake in Tanger Inc. (NYSE:SKT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,401 shares of the real estate investment trust's stock, valued at approximately $351,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its holdings in 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. Nuveen Asset Management LLC lifted its holdings in Tanger by 78.6% during the 4th quarter. Nuveen Asset Management LLC now owns 1,714,769 shares of the real estate investment trust's stock worth $58,525,000 after purchasing an additional 754,429 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Tanger by 34.0% during the 4th quarter. Wellington Management Group LLP now owns 2,748,467 shares of the real estate investment trust's stock worth $93,805,000 after purchasing an additional 697,291 shares during the last quarter. Northern Trust Corp lifted its holdings in Tanger by 56.4% during the 4th quarter. Northern Trust Corp now owns 1,817,052 shares of the real estate investment trust's stock worth $62,016,000 after purchasing an additional 655,237 shares during the last quarter. Finally, Norges Bank acquired a new stake in Tanger during the 4th quarter worth approximately $22,239,000. Institutional investors own 85.23% of the company's stock.

Tanger Price Performance

Shares of NYSE SKT opened at $30.65 on Monday. The stock has a market capitalization of $3.47 billion, a PE ratio of 36.49, a P/E/G ratio of 2.91 and a beta of 1.19. The company has a debt-to-equity ratio of 2.37, a current ratio of 0.14 and a quick ratio of 0.14. The business has a fifty day moving average price of $30.31 and a two-hundred day moving average price of $32.32. 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 quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $129.29 million during the quarter, compared to analysts' expectations of $128.24 million. Tanger had a return on equity of 15.13% and a net margin of 17.65%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. As a group, equities analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.2925 dividend. This is a positive change from Tanger's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, April 30th. This represents a $1.17 annualized dividend and a dividend yield of 3.82%. Tanger's dividend payout ratio (DPR) is presently 139.29%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SKT shares. The Goldman Sachs Group raised Tanger from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $39.00 to $40.00 in a report on Friday, March 28th. Evercore ISI raised Tanger to a "hold" rating in a report on Friday, May 2nd. Finally, Scotiabank dropped their price target on Tanger from $38.00 to $33.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.

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