78,107 Shares in Tanger Inc. (NYSE:SKT) Bought by Tudor Investment Corp ET AL

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 worth $36,000 after acquiring an additional 733 shares during the period. Coppell Advisory Solutions LLC raised its stake in shares of Tanger by 144.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust's stock worth $80,000 after buying an additional 1,399 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Tanger by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 514 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 valued at $95,000 after purchasing an additional 2,249 shares in the last quarter. Finally, FIL Ltd lifted its stake in shares of Tanger by 16.2% in the fourth 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 during the period. Hedge funds and other institutional investors own 85.23% of the company's stock.

Insider Activity

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the business's 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 transaction, the chief operating officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SKT has been the subject of a number of research analyst reports. BMO Capital Markets started coverage on shares of Tanger in a report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 target price for the company. Scotiabank lowered their price target on shares of Tanger from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group upgraded Tanger from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $39.00 to $40.00 in a research report on Friday, March 28th. Finally, Evercore ISI upgraded 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 issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Tanger Stock Up 0.3 %

Shares of SKT traded up $0.10 during mid-day trading on Friday, reaching $29.96. The company's stock had a trading volume of 177,051 shares, compared to its average volume of 788,441. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth 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. The business has a fifty day moving average of $32.02 and a 200 day moving average of $33.70.

Tanger (NYSE:SKT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate 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%. Tanger's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. As a group, analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Wednesday, April 30th. This is an increase from Tanger's previous quarterly dividend of $0.28. Tanger's payout ratio is currently 139.29%.

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.