Tanger Inc. (NYSE:SKT) Shares Sold by GRS Advisors LLC

GRS Advisors LLC trimmed its stake in Tanger Inc. (NYSE:SKT - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 895,897 shares of the real estate investment trust's stock after selling 178,248 shares during the period. Tanger makes up approximately 3.0% of GRS Advisors LLC's portfolio, making the stock its 16th biggest holding. GRS Advisors LLC owned approximately 0.81% of Tanger worth $30,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its stake in Tanger by 24.9% in the fourth quarter. FMR LLC now owns 9,397,189 shares of the real estate investment trust's stock worth $320,726,000 after buying an additional 1,873,835 shares in the last quarter. Wellington Management Group LLP boosted its stake in Tanger by 34.0% in the fourth quarter. Wellington Management Group LLP now owns 2,748,467 shares of the real estate investment trust's stock worth $93,805,000 after buying an additional 697,291 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tanger by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,997,100 shares of the real estate investment trust's stock worth $68,161,000 after buying an additional 31,750 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Tanger by 56.4% during the fourth quarter. Northern Trust Corp now owns 1,817,052 shares of the real estate investment trust's stock valued at $62,016,000 after purchasing an additional 655,237 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Tanger by 9.5% during the fourth quarter. Invesco Ltd. now owns 895,466 shares of the real estate investment trust's stock valued at $30,562,000 after purchasing an additional 78,014 shares during the period. Hedge funds and other institutional investors own 85.23% of the company's stock.

Tanger Stock Performance

NYSE SKT traded up $0.14 during trading hours on Thursday, hitting $30.51. The company's stock had a trading volume of 41,366 shares, compared to its average volume of 795,949. Tanger Inc. has a 12 month low of $25.94 and a 12 month high of $37.57. The company's 50 day simple moving average is $31.72 and its two-hundred day simple moving average is $33.61. The company has a market cap of $3.45 billion, a P/E ratio of 35.06, 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 released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53. The business had revenue of $129.29 million during the quarter, compared to the consensus estimate of $128.24 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. As a group, sell-side analysts expect that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a $0.2925 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This is a boost from Tanger's previous quarterly dividend of $0.28. This represents a $1.17 dividend on an annualized basis and a yield of 3.83%. Tanger's payout ratio is currently 139.29%.

Insider Buying and Selling

In other Tanger 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 value of $404,750.00. Following the sale, the chief operating officer now owns 113,158 shares in the company, valued at $3,664,056.04. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SKT has been the subject of a number of analyst reports. BMO Capital Markets assumed coverage on Tanger in a research note on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price objective for the company. Scotiabank dropped 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. Evercore ISI raised Tanger to a "hold" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group raised Tanger from a "neutral" rating to a "buy" rating and raised their price target for the stock from $39.00 to $40.00 in a research note on Friday, March 28th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Tanger has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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.