Tudor Investment Corp ET AL Purchases Shares of 78,107 Tanger Inc. (NYSE:SKT)

Tudor Investment Corp ET AL purchased a new stake in shares of Tanger Inc. (NYSE:SKT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 78,107 shares of the real estate investment trust's stock, valued at approximately $2,666,000. Tudor Investment Corp ET AL owned 0.07% of Tanger at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SKT. Aster Capital Management DIFC Ltd lifted its position in Tanger by 232.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 733 shares during the period. Coppell Advisory Solutions LLC increased its stake 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 valued at $80,000 after purchasing an additional 1,399 shares in the last quarter. GAMMA Investing LLC boosted its position 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 purchasing an additional 514 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Tanger by 415.7% in the 4th 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 in the last quarter. Finally, FIL Ltd increased its position in 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 buying an additional 401 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Tanger Stock Performance

Shares of SKT traded up $0.13 during mid-day trading on Wednesday, hitting $29.81. 1,083,905 shares of the company traded hands, compared to its average volume of 790,990. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.97 and a beta of 1.18. The stock has a 50-day moving average price of $32.13 and a two-hundred day moving average price of $33.73. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44.

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

Tanger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.17 annualized dividend and a dividend yield of 3.92%. This is a positive change from Tanger's previous quarterly dividend of $0.28. Tanger's dividend payout ratio is presently 139.29%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm'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 transaction, the chief operating officer now directly owns 113,158 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.70% of the company's stock.

About Tanger

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.