Tanger Inc. $SKT Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,511,443 shares of the real estate investment trust's stock after buying an additional 193,141 shares during the quarter. Vanguard Group Inc. owned about 15.47% of Tanger worth $591,712,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SKT. Intrust Bank NA increased its position in shares of Tanger by 12.0% during the first quarter. Intrust Bank NA now owns 15,581 shares of the real estate investment trust's stock worth $526,000 after buying an additional 1,666 shares during the period. New Age Alpha Advisors LLC raised its holdings in shares of Tanger by 168.3% in the 1st quarter. New Age Alpha Advisors LLC now owns 129,316 shares of the real estate investment trust's stock worth $4,370,000 after purchasing an additional 81,111 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Tanger in the first quarter valued at $6,296,000. Natixis Advisors LLC lifted its holdings in Tanger by 6.5% during the first quarter. Natixis Advisors LLC now owns 50,734 shares of the real estate investment trust's stock valued at $1,714,000 after purchasing an additional 3,084 shares during the last quarter. Finally, Vestcor Inc bought a new position in Tanger in the 1st quarter worth approximately $3,622,000. 85.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SKT. Scotiabank cut their price objective on shares of Tanger from $38.00 to $33.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Tanger from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. LADENBURG THALM/SH SH initiated coverage on Tanger in a research report on Friday, July 18th. They issued a "buy" rating and a $35.00 price objective for the company. Barclays started coverage on Tanger in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $33.00 target price on the stock. Finally, Evercore ISI raised Tanger to a "hold" rating in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.40.

Tanger Trading Down 0.1%

Shares of NYSE:SKT traded down $0.04 during trading on Monday, hitting $32.30. The company had a trading volume of 79,483 shares, compared to its average volume of 956,377. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11. Tanger Inc. has a one year low of $27.96 and a one year high of $37.57. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The company has a fifty day simple moving average of $31.15 and a two-hundred day simple moving average of $31.79.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. The company had revenue of $133.44 million during the quarter, compared to the consensus estimate of $132.02 million. Tanger had a net margin of 18.22% and a return on equity of 15.45%. Tanger's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, equities analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a dividend of $0.2925 per share. The ex-dividend date was Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 3.6%. Tanger's payout ratio is currently 132.95%.

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.