Tanger Inc. (NYSE:SKT) Shares Bought by Marshall Wace LLP

Marshall Wace LLP increased its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 38.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 160,963 shares of the real estate investment trust's stock after buying an additional 45,113 shares during the quarter. Marshall Wace LLP owned about 0.15% of Tanger worth $5,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Tanger by 24.9% during the 4th 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 during the last quarter. Wellington Management Group LLP increased its stake in Tanger by 34.0% during 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 acquiring an additional 697,291 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tanger by 1.6% during the 4th 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 purchasing an additional 31,750 shares during the period. Invesco Ltd. increased its position in shares of Tanger by 9.5% during the 4th quarter. Invesco Ltd. now owns 895,466 shares of the real estate investment trust's stock worth $30,562,000 after purchasing an additional 78,014 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Tanger by 5.7% in the 4th quarter. Renaissance Technologies LLC now owns 818,672 shares of the real estate investment trust's stock valued at $27,941,000 after buying an additional 44,265 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Insider Transactions at Tanger

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction that occurred on 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 directly owns 113,158 shares in the company, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.70% of the company's stock.

Tanger Stock Performance

SKT traded down $0.70 during trading on Tuesday, hitting $31.59. 96,846 shares of the stock were exchanged, compared to its average volume of 766,265. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57. The stock has a fifty day moving average price of $32.89 and a two-hundred day moving average price of $33.92. The firm has a market capitalization of $3.58 billion, a P/E ratio of 36.46, a PEG ratio of 2.97 and a beta of 1.49.

Tanger (NYSE:SKT - Get Free Report) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. As a group, sell-side analysts predict that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Wednesday, April 30th. This is a positive change from Tanger's previous quarterly dividend of $0.28. Tanger's payout ratio is currently 134.48%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price objective for the company. The Goldman Sachs Group raised Tanger from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $39.00 to $40.00 in a research note on Friday, March 28th. Finally, Scotiabank decreased their target price 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

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.