Tanger Inc. (NYSE:SKT) Stake Raised by Two Sigma Advisers LP

Two Sigma Advisers LP lifted its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 28.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,700 shares of the real estate investment trust's stock after purchasing an additional 17,400 shares during the quarter. Two Sigma Advisers LP owned 0.07% of Tanger worth $2,652,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd grew its stake in shares of 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 purchasing an additional 733 shares in the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of 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 purchasing an additional 1,399 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Tanger by 415.7% in the fourth 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 grew its stake in shares of 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 purchasing an additional 401 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Tanger by 21.6% in the fourth 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. Institutional investors own 85.23% of the company's stock.

Insider Activity

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the company's 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 completion of the sale, the chief operating officer now directly owns 113,158 shares of the company's stock, valued at $3,664,056.04. This represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SKT shares. The Goldman Sachs Group raised Tanger from a "neutral" rating to a "buy" rating and increased their price target for the stock from $39.00 to $40.00 in a research note on Friday, March 28th. Evercore ISI raised Tanger to a "hold" rating in a research note on Friday, May 2nd. Finally, Scotiabank decreased their price target on Tanger from $38.00 to $33.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Tanger Price Performance

SKT stock traded down $0.22 during trading hours on Friday, hitting $29.82. 1,314,988 shares of the stock traded hands, compared to its average volume of 812,578. The stock has a 50-day simple moving average of $31.10 and a 200 day simple moving average of $33.23. Tanger Inc. has a one year low of $25.94 and a one year high of $37.57. The company has a market cap of $3.37 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.97 and a beta of 1.18. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09.

Tanger (NYSE:SKT - Get Free Report) last announced its earnings results 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. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The business had revenue of $129.29 million during the quarter, compared to analysts' expectations of $128.24 million. During the same quarter last year, the business posted $0.52 earnings per share. The company's quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.92%. This is an increase from Tanger's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, April 30th. Tanger's dividend payout ratio is currently 139.29%.

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.