Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 26,238 Tanger Inc. (NYSE:SKT)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 26,238 shares of Tanger Inc., valued at approximately $887,000, reflecting continued interest from institutional investors in the company.
• Tanger Inc. recently announced a quarterly dividend of $0.2925 per share, representing an annualized dividend yield of 4.0%, with a high dividend payout ratio of 139.29%.
• Selling analysts maintain an average price target of $36.40 for Tanger Inc., with several firms issuing ratings from "hold" to "buy" on the stock.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Tanger Inc. (NYSE:SKT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,238 shares of the real estate investment trust's stock, valued at approximately $887,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd lifted its stake in shares of 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. Pictet Asset Management Holding SA lifted its stake in shares of Tanger by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 32,851 shares of the real estate investment trust's stock valued at $1,121,000 after purchasing an additional 480 shares in the last quarter. Xponance Inc. lifted its stake in shares of Tanger by 6.7% in the 1st quarter. Xponance Inc. now owns 8,156 shares of the real estate investment trust's stock valued at $276,000 after purchasing an additional 514 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Tanger by 5.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,139 shares of the real estate investment trust's stock valued at $380,000 after purchasing an additional 553 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Tanger by 0.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 157,814 shares of the real estate investment trust's stock valued at $5,386,000 after purchasing an additional 554 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SKT shares. Evercore ISI raised Tanger to a "hold" rating in a research note on Friday, May 2nd. Scotiabank reduced their price objective on Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Barclays assumed coverage on Tanger in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $33.00 target price on the stock. Finally, LADENBURG THALM/SH SH began coverage on Tanger in a report on Friday, July 18th. They set a "buy" rating and a $35.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.40.

Tanger Trading Up 0.8%

Shares of Tanger stock traded up $0.24 on Wednesday, reaching $32.53. 294,169 shares of the company were exchanged, compared to its average volume of 961,242. The stock has a fifty day moving average price of $30.74 and a 200-day moving average price of $31.85. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 2.37. Tanger Inc. has a fifty-two week low of $26.99 and a fifty-two week high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. Tanger had a return on equity of 15.56% and a net margin of 18.22%. The firm had revenue of $133.44 million for the quarter, compared to analyst estimates of $132.02 million. During the same period in the previous year, the firm earned $0.53 earnings per share. Tanger's quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts expect that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, July 31st. Tanger's dividend payout ratio (DPR) is currently 139.29%.

About Tanger

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.