Monument Capital Management Makes New $351,000 Investment in Tanger Inc. (NYSE:SKT)

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

A number of other large investors have also recently added to or reduced their stakes in SKT. FMR LLC boosted its position in shares of Tanger by 24.9% in 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 purchasing an additional 1,873,835 shares during the period. Nuveen Asset Management LLC lifted its stake in Tanger by 78.6% during the fourth quarter. Nuveen Asset Management LLC now owns 1,714,769 shares of the real estate investment trust's stock valued at $58,525,000 after buying an additional 754,429 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 worth $93,805,000 after buying an additional 697,291 shares during the period. Northern Trust Corp increased its position in shares of 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 worth $62,016,000 after acquiring an additional 655,237 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Tanger in the fourth quarter worth approximately $22,239,000. 85.23% of the stock is currently owned by institutional investors.

Tanger Trading Up 0.9%

Shares of SKT stock traded up $0.29 on Thursday, reaching $31.66. 621,917 shares of the stock were exchanged, compared to its average volume of 960,551. The company has a debt-to-equity ratio of 2.37, a current ratio of 0.14 and a quick ratio of 0.14. Tanger Inc. has a one year low of $25.96 and a one year high of $37.57. The stock has a market cap of $3.58 billion, a PE ratio of 37.68, a P/E/G ratio of 2.94 and a beta of 1.17. The stock has a 50 day moving average price of $30.27 and a 200 day moving average price of $32.27.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 net margin of 17.65% and a return on equity of 15.13%. The business's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. Equities research analysts forecast that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.70%. 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. Tanger's dividend payout ratio (DPR) is presently 139.29%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SKT. The Goldman Sachs Group upgraded Tanger from a "neutral" rating to a "buy" rating and increased their target price for the company from $39.00 to $40.00 in a report on Friday, March 28th. Evercore ISI raised Tanger to a "hold" rating in a research note on Friday, May 2nd. Barclays started coverage on Tanger in a research report on Wednesday. They set an "equal weight" rating and a $33.00 price objective for the company. Finally, Scotiabank dropped their target price on Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.56.

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.