Susquehanna Fundamental Investments LLC Invests $2.18 Million in Tanger Inc. (NYSE:SKT)

Susquehanna Fundamental Investments LLC purchased a new position in Tanger Inc. (NYSE:SKT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 63,762 shares of the real estate investment trust's stock, valued at approximately $2,176,000. Susquehanna Fundamental Investments LLC owned about 0.06% of Tanger as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Tanger by 24.9% during the 4th quarter. FMR LLC now owns 9,397,189 shares of the real estate investment trust's stock valued at $320,726,000 after purchasing an additional 1,873,835 shares during the period. Wellington Management Group LLP increased its holdings in shares of Tanger by 34.0% during the 4th quarter. Wellington Management Group LLP now owns 2,748,467 shares of the real estate investment trust's stock valued at $93,805,000 after acquiring an additional 697,291 shares during the last quarter. Norges Bank bought a new position in shares of Tanger in the fourth quarter valued at approximately $22,239,000. APG Asset Management US Inc. acquired a new stake in shares of Tanger in the fourth quarter valued at about $20,955,000. Finally, JPMorgan Chase & Co. increased its position in Tanger by 46.1% in the 4th quarter. JPMorgan Chase & Co. now owns 650,060 shares of the real estate investment trust's stock worth $22,187,000 after buying an additional 205,159 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Insider Activity

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value of $404,750.00. Following the transaction, the chief operating officer now owns 113,158 shares of the company's stock, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Tanger Price Performance

SKT stock traded down $0.07 during midday trading on Monday, reaching $29.78. 281,186 shares of the company's stock traded hands, compared to its average volume of 917,765. The company has a 50-day simple moving average of $32.47 and a two-hundred day simple moving average of $33.82. 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 company has a market cap of $3.37 billion, a price-to-earnings ratio of 34.23, 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, April 30th. The real estate investment trust reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The company had revenue of $129.29 million for the quarter, compared to analysts' expectations of $128.24 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The business's revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.93%. This is a positive change from Tanger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, April 30th. Tanger's dividend payout ratio is presently 139.29%.

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.