BNP Paribas Financial Markets Has $2.33 Million Stock Position in Tanger Inc. (NYSE:SKT)

BNP Paribas Financial Markets grew its position in Tanger Inc. (NYSE:SKT - Free Report) by 20.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,197 shares of the real estate investment trust's stock after buying an additional 11,552 shares during the period. BNP Paribas Financial Markets owned approximately 0.06% of Tanger worth $2,328,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd lifted its holdings in Tanger by 232.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 733 shares in the last quarter. Coppell Advisory Solutions LLC raised its position in shares of Tanger by 144.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 1,399 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Tanger by 415.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust's stock worth $95,000 after purchasing an additional 2,249 shares during the period. FIL Ltd lifted its holdings in shares of Tanger by 16.2% during the 4th quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust's stock valued at $98,000 after purchasing an additional 401 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Tanger by 21.6% in the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust's stock valued at $153,000 after purchasing an additional 795 shares during the period. Institutional investors own 85.23% of the company's stock.

Analysts Set New Price Targets

SKT has been the subject of a number of research reports. Scotiabank lowered their target price 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 shares of Tanger to a "hold" rating in a research report on Friday, May 2nd. BMO Capital Markets started coverage on shares of Tanger in a report on Tuesday, January 28th. They set a "market perform" rating and a $36.00 price objective on the stock. Finally, The Goldman Sachs Group raised shares of Tanger from a "neutral" rating to a "buy" rating and upped their target price 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. Based on data from MarketBeat.com, Tanger currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Tanger Stock Down 1.4%

SKT traded down $0.42 during trading hours on Thursday, hitting $29.16. 74,210 shares of the company's stock were exchanged, compared to its average volume of 796,671. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57. The stock's 50-day moving average is $31.54 and its two-hundred day moving average is $33.50. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 2.97 and a beta of 1.18. 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 (NYSE:SKT - Get Free Report) last issued its quarterly 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 net margin of 18.65% and a return on equity of 16.16%. The firm had revenue of $129.29 million for the quarter, compared to analysts' expectations of $128.24 million. During the same period in the previous year, the firm posted $0.52 EPS. The company's revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 4.01%. The ex-dividend date was Wednesday, April 30th. This is a positive change from Tanger's previous quarterly dividend of $0.28. Tanger's dividend payout ratio is presently 139.29%.

Insider Activity at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the business's stock in a transaction 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 transaction, the chief operating officer now directly owns 113,158 shares in the company, valued at approximately $3,664,056.04. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.70% of the company's stock.

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.