Schonfeld Strategic Advisors LLC Buys 41,450 Shares of Tanger Inc. (NYSE:SKT)

Schonfeld Strategic Advisors LLC raised its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 518.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,450 shares of the real estate investment trust's stock after buying an additional 41,450 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Tanger were worth $1,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SKT. FMR LLC grew its position in shares of Tanger by 24.9% in the fourth 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 last quarter. Wellington Management Group LLP lifted its position in shares of Tanger by 34.0% in the 4th quarter. Wellington Management Group LLP now owns 2,748,467 shares of the real estate investment trust's stock worth $93,805,000 after buying an additional 697,291 shares during the last quarter. Northern Trust Corp lifted its stake in Tanger by 56.4% in the fourth quarter. Northern Trust Corp now owns 1,817,052 shares of the real estate investment trust's stock valued at $62,016,000 after buying an additional 655,237 shares during the last quarter. Norges Bank bought a new stake in Tanger in the 4th quarter valued at about $22,239,000. Finally, APG Asset Management US Inc. bought a new position in Tanger during the fourth quarter valued at about $20,955,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger 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 transaction, the chief operating officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.70% of the stock is currently owned by company insiders.

Tanger Stock Performance

Shares of NYSE:SKT traded up $1.99 during trading on Monday, reaching $32.18. 313,305 shares of the stock were exchanged, compared to its average volume of 790,192. The firm has a market cap of $3.64 billion, a PE ratio of 36.95, a PEG ratio of 2.97 and a beta of 1.18. The stock has a 50-day moving average price of $31.92 and a 200-day moving average price of $33.66. 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 12 month low of $25.94 and a 12 month high of $37.57.

Tanger (NYSE:SKT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $128.24 million. During the same quarter last year, the firm earned $0.52 earnings per share. The company's revenue was up 9.7% on a year-over-year basis. Research analysts expect that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a $0.2925 dividend. This is a boost from Tanger's previous quarterly dividend of $0.28. This represents a $1.17 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, April 30th. Tanger's payout ratio is 139.29%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Evercore ISI upgraded shares of Tanger to a "hold" rating in a research report on Friday, May 2nd. The Goldman Sachs Group upgraded Tanger from a "neutral" rating to a "buy" rating and raised their price target for the company from $39.00 to $40.00 in a report on Friday, March 28th. Scotiabank cut their target price on shares of Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Finally, BMO Capital Markets assumed 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus 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.