Two Sigma Investments LP Acquires 90,607 Shares of Tanger Inc. (NYSE:SKT)

Two Sigma Investments LP increased its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 307.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,095 shares of the real estate investment trust's stock after purchasing an additional 90,607 shares during the period. Two Sigma Investments LP owned 0.11% of Tanger worth $4,099,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SKT. Aster Capital Management DIFC Ltd lifted its holdings in Tanger by 232.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 733 shares in the last quarter. Coppell Advisory Solutions LLC lifted its holdings in Tanger by 144.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 1,399 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Tanger by 415.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock worth $95,000 after purchasing an additional 2,249 shares in the last quarter. FIL Ltd lifted its holdings in Tanger by 16.2% in the 4th quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust's stock worth $98,000 after purchasing an additional 401 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Tanger by 21.6% in the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust's stock worth $153,000 after purchasing an additional 795 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction on 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 owns 113,158 shares in the company, valued at approximately $3,664,056.04. This represents a 9.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SKT has been the topic of a number of research analyst reports. The Goldman Sachs Group raised Tanger from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $39.00 to $40.00 in a report on Friday, March 28th. Scotiabank lowered their price target on Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Finally, Evercore ISI raised Tanger to a "hold" rating in a report on Friday, May 2nd. 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, the company has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Tanger Price Performance

Shares of SKT traded down $0.22 during mid-day trading on Friday, hitting $29.82. 1,314,988 shares of the stock were exchanged, compared to its average volume of 812,578. The company has a market cap of $3.37 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The firm has a 50-day moving average of $31.10 and a two-hundred day moving average of $33.23. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44.

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, hitting 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 earned $0.52 EPS. The company's revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts predict that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 3.92%. The ex-dividend date was Wednesday, April 30th. This is a positive change from Tanger's previous quarterly dividend of $0.28. Tanger's dividend payout ratio is presently 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.