New Age Alpha Advisors LLC boosted its position in Tanger Inc. (NYSE:SKT - Free Report) by 168.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,316 shares of the real estate investment trust's stock after buying an additional 81,111 shares during the quarter. New Age Alpha Advisors LLC owned approximately 0.11% of Tanger worth $4,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of SKT. NBC Securities Inc. purchased a new stake in Tanger in the first quarter worth $30,000. Aster Capital Management DIFC Ltd increased its position in Tanger by 232.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust's stock worth $36,000 after buying an additional 733 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Tanger in the fourth quarter worth $68,000. Coppell Advisory Solutions LLC increased its position in Tanger by 144.4% in the fourth quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust's stock worth $80,000 after buying an additional 1,399 shares during the last quarter. Finally, FIL Ltd increased its position in Tanger by 16.2% in the fourth 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 during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on SKT. Evercore ISI raised Tanger to a "hold" rating in a research report on Friday, May 2nd. LADENBURG THALM/SH SH initiated coverage on Tanger in a report on Friday, July 18th. They issued a "buy" rating and a $35.00 price target for the company. Wall Street Zen raised Tanger from a "sell" rating to a "hold" rating in a report on Saturday. Barclays initiated coverage on Tanger in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $33.00 price target for the company. Finally, Scotiabank cut 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $36.40.
View Our Latest Analysis on Tanger
Tanger Price Performance
NYSE:SKT traded down $0.32 during trading hours on Friday, hitting $31.63. 841,361 shares of the company's stock traded hands, compared to its average volume of 1,015,414. The firm has a market cap of $3.58 billion, a P/E ratio of 35.94, a P/E/G ratio of 2.09 and a beta of 1.23. Tanger Inc. has a 52 week low of $27.14 and a 52 week high of $37.57. The business's fifty day simple moving average is $30.87 and its two-hundred day simple moving average is $31.83. The company has a quick ratio of 0.14, a current ratio of 0.11 and a debt-to-equity ratio of 2.31.
Tanger (NYSE:SKT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Tanger had a return on equity of 15.45% and a net margin of 18.22%. The company had revenue of $133.44 million during the quarter, compared to analyst estimates of $132.02 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm's quarterly revenue was up 9.2% on a year-over-year basis. On average, research analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.
Tanger Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $0.2925 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.17 annualized dividend and a dividend yield of 3.7%. Tanger's payout ratio is currently 132.95%.
Tanger Company Profile
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Free Report)
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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