Two Sigma Advisers LP Has $2.65 Million Holdings in Tanger Inc. (NYSE:SKT)

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

A number of other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd increased its holdings 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 valued at $36,000 after buying an additional 733 shares during the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of 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 valued at $80,000 after purchasing an additional 1,399 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Tanger by 415.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock worth $95,000 after buying an additional 2,249 shares during the last quarter. FIL Ltd boosted 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 valued at $98,000 after purchasing an additional 401 shares in the last quarter. Finally, KBC Group NV grew its holdings in Tanger by 21.6% during the fourth quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust's stock worth $153,000 after acquiring an additional 795 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction dated Tuesday, March 11th. The shares were 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 owns 113,158 shares of the company's stock, valued at approximately $3,664,056.04. The trade was a 9.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.70% of the company's stock.

Tanger Stock Down 0.7%

SKT traded down $0.22 during trading on Friday, reaching $29.82. 1,314,988 shares of the stock traded hands, compared to its average volume of 812,578. The stock's 50-day simple moving average is $31.10 and its two-hundred day simple moving average is $33.21. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13.

Tanger (NYSE:SKT - Get Free Report) last posted 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. The company had revenue of $129.29 million for the quarter, compared to the consensus estimate of $128.24 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The business's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, equities research analysts expect that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Increases Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 3.92%. This is a boost from Tanger's previous quarterly dividend of $0.28. Tanger's payout ratio is currently 139.29%.

Analyst Ratings Changes

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

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.