Susquehanna Fundamental Investments LLC Acquires Shares of 63,762 Tanger Inc. (NYSE:SKT)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Tanger Inc. (NYSE:SKT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,762 shares of the real estate investment trust's stock, valued at approximately $2,176,000. Susquehanna Fundamental Investments LLC owned 0.06% of Tanger as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SKT. Mutual of America Capital Management LLC increased its position in shares of Tanger by 1.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust's stock worth $572,000 after buying an additional 319 shares during the period. Maryland State Retirement & Pension System boosted its position in Tanger by 0.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust's stock valued at $1,272,000 after acquiring an additional 349 shares during the last quarter. FIL Ltd grew its holdings in Tanger by 16.2% during the 4th quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust's stock worth $98,000 after acquiring an additional 401 shares during the period. DAVENPORT & Co LLC raised its position in shares of Tanger by 1.4% in the 4th quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust's stock worth $1,074,000 after acquiring an additional 425 shares in the last quarter. Finally, 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 during the period. Institutional investors own 85.23% of the company's stock.

Insider Activity

In related 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 transaction of $404,750.00. Following the transaction, the chief operating officer now directly owns 113,158 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.70% of the company's stock.

Analyst Upgrades and Downgrades

SKT has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Tanger in a research note on Tuesday, January 28th. They set a "market perform" rating and a $36.00 target price for the company. The Goldman Sachs Group upgraded shares of 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 dropped their target price on shares of Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Tanger presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Tanger Stock Down 0.3 %

NYSE SKT traded down $0.08 during mid-day trading on Friday, hitting $29.85. The company's stock had a trading volume of 2,279,504 shares, compared to its average volume of 786,560. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 2.97 and a beta of 1.49. The company's 50 day simple moving average is $32.47 and its 200 day simple moving average is $33.83. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings data 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. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The firm had revenue of $129.29 million during the quarter, compared to analysts' expectations of $128.24 million. During the same period last year, the company earned $0.52 earnings per share. The business's revenue was up 9.7% on a year-over-year basis. 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 issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Wednesday, April 30th. This is a positive change from Tanger's previous quarterly dividend of $0.28. Tanger's dividend payout ratio (DPR) is currently 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.