Tanger Inc. (NYSE:SKT) Position Increased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its stake in Tanger Inc. (NYSE:SKT - Free Report) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,681 shares of the real estate investment trust's stock after acquiring an additional 12,331 shares during the period. Cubist Systematic Strategies LLC owned 0.08% of Tanger worth $2,993,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. BOKF NA raised its position in shares of Tanger by 23.6% during the 4th quarter. BOKF NA now owns 9,956 shares of the real estate investment trust's stock valued at $325,000 after acquiring an additional 1,902 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Tanger by 20.4% in the fourth quarter. BNP Paribas Financial Markets now owns 68,197 shares of the real estate investment trust's stock worth $2,328,000 after purchasing an additional 11,552 shares during the period. Algert Global LLC increased its stake in Tanger by 12.9% during the fourth quarter. Algert Global LLC now owns 275,145 shares of the real estate investment trust's stock valued at $9,391,000 after purchasing an additional 31,522 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Tanger during the fourth quarter worth $532,000. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of Tanger by 518.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 49,450 shares of the real estate investment trust's stock worth $1,688,000 after buying an additional 41,450 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Insider Transactions at Tanger

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the business's 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 of the company's stock, valued at approximately $3,664,056.04. The trade was a 9.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.70% of the company's stock.

Tanger Stock Performance

SKT traded down $0.35 during trading hours on Tuesday, hitting $31.29. The company's stock had a trading volume of 1,369,832 shares, compared to its average volume of 799,606. The company has a 50-day simple moving average of $31.79 and a 200 day simple moving average of $33.63. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $3.54 billion, a PE ratio of 35.97, a PEG ratio of 2.97 and a beta of 1.18. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57.

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, meeting analysts' consensus estimates of $0.53. The company had revenue of $129.29 million for the quarter, compared to analyst estimates of $128.24 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. As a group, sell-side analysts expect that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 3.74%. This is an increase from Tanger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, April 30th. Tanger's payout ratio is 139.29%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SKT shares. BMO Capital Markets assumed 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 upgraded Tanger from a "neutral" rating to a "buy" rating and lifted their target price for the company from $39.00 to $40.00 in a research note on Friday, March 28th. Scotiabank dropped their price target on Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Evercore ISI raised Tanger to a "hold" rating in a report on Friday, May 2nd. 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.