Tanger Inc. (NYSE:SKT) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC lifted its position in shares of Tanger Inc. (NYSE:SKT - Free Report) by 78.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,714,769 shares of the real estate investment trust's stock after purchasing an additional 754,429 shares during the period. Nuveen Asset Management LLC owned about 1.55% of Tanger worth $58,525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its holdings in Tanger by 0.5% in the 4th quarter. Millennium Management LLC now owns 1,748,635 shares of the real estate investment trust's stock valued at $59,681,000 after acquiring an additional 8,590 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Tanger by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,620 shares of the real estate investment trust's stock worth $2,069,000 after purchasing an additional 2,354 shares during the period. Lazard Asset Management LLC raised its stake in Tanger by 45.1% during the fourth quarter. Lazard Asset Management LLC now owns 38,093 shares of the real estate investment trust's stock worth $1,300,000 after acquiring an additional 11,846 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Tanger by 61.3% in the fourth quarter. Deutsche Bank AG now owns 178,294 shares of the real estate investment trust's stock valued at $6,085,000 after buying an additional 67,740 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Tanger by 16.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 87,681 shares of the real estate investment trust's stock valued at $2,993,000 after acquiring an additional 12,331 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Insider Buying and Selling

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the sale, the chief operating officer now directly owns 113,158 shares of the company's stock, valued at $3,664,056.04. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SKT. Scotiabank cut 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. The Goldman Sachs Group upgraded Tanger from a "neutral" rating to a "buy" rating and upped their target price for the company from $39.00 to $40.00 in a research report on Friday, March 28th. Evercore ISI raised Tanger to a "hold" rating in a report on Friday, May 2nd. Finally, BMO Capital Markets began coverage on Tanger in a report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 target price for the company. Four 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, Tanger has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Tanger Trading Down 2.8%

SKT traded down $0.87 during midday trading on Wednesday, reaching $29.63. 485,404 shares of the company's stock traded hands, compared to its average volume of 799,513. 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 stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 2.97 and a beta of 1.18. The firm has a fifty day moving average of $31.54 and a two-hundred day moving average of $33.50. Tanger Inc. has a 52 week low of $25.94 and a 52 week 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 (EPS) for the quarter, meeting the consensus estimate of $0.53. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The business had revenue of $129.29 million for the quarter, compared to analysts' expectations of $128.24 million. During the same period in the prior year, the firm posted $0.52 EPS. The firm's quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a $0.2925 dividend. This is an increase from Tanger's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 3.95%. Tanger's payout ratio is 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.