Tanger Inc. (NYSE:SKT) Shares Sold by Jump Financial LLC

Jump Financial LLC lessened its holdings in shares of Tanger Inc. (NYSE:SKT - Free Report) by 91.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,684 shares of the real estate investment trust's stock after selling 95,097 shares during the period. Jump Financial LLC's holdings in Tanger were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKT. Aster Capital Management DIFC Ltd increased its stake in shares of 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 valued at $36,000 after purchasing an additional 733 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Tanger by 24.9% in the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock worth $88,000 after buying an additional 514 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in 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 valued at $95,000 after buying an additional 2,249 shares during the last quarter. FIL Ltd boosted its holdings in Tanger by 16.2% in the fourth 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 in the last quarter. Finally, KBC Group NV increased its holdings in shares of Tanger by 21.6% during the fourth quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust's stock valued at $153,000 after acquiring an additional 795 shares in the last quarter. Institutional investors own 85.23% of the company's stock.

Analyst Ratings Changes

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

Tanger Stock Performance

SKT stock traded down $0.13 during midday trading on Friday, reaching $29.81. 628,676 shares of the company's stock traded hands, compared to its average volume of 904,350. 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 stock has a market cap of $3.37 billion, a P/E ratio of 34.26, a PEG ratio of 2.97 and a beta of 1.49. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The stock's 50-day moving average is $32.59 and its 200 day moving average is $33.86.

Tanger (NYSE:SKT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The business had revenue of $129.29 million for the quarter, compared to the consensus estimate of $128.24 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts anticipate that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.93%. This is a boost from Tanger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, April 30th. Tanger's payout ratio is 139.29%.

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the completion of the sale, the chief operating officer now directly owns 113,158 shares in the company, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.70% of the company's stock.

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.