Tanger Inc. (NYSE:SKT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in Tanger Inc. (NYSE:SKT) by 3.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,753 shares of the real estate investment trust’s stock after selling 930 shares during the period. Los Angeles Capital Management LLC’s holdings in Tanger were worth $879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. DAVENPORT & Co LLC boosted its position in shares of Tanger by 1.4% during the 4th quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust’s stock valued at $1,074,000 after acquiring an additional 425 shares during 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 last quarter. Exchange Traded Concepts LLC increased its stake in Tanger by 12.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock worth $175,000 after acquiring an additional 583 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Tanger by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the real estate investment trust’s stock valued at $1,826,000 after purchasing an additional 600 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Tanger by 21.6% during the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 795 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

SKT has been the topic of a number of research reports. Citigroup upped their price target on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. BMO Capital Markets initiated coverage on shares of Tanger in a research note on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Bank of America upgraded shares of Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $40.00 in a report on Monday, November 11th. Finally, Evercore ISI raised their price target on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Tanger presently has an average rating of “Hold” and a consensus price target of $36.00.

Tanger Stock Performance

NYSE SKT opened at $35.45 on Monday. The business has a 50 day moving average price of $33.84 and a 200 day moving average price of $33.55. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The company has a market capitalization of $4.00 billion, a P/E ratio of 40.75, a PEG ratio of 2.97 and a beta of 1.91. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $132.17 million during the quarter, compared to the consensus estimate of $129.10 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. Sell-side analysts expect that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.10%. Tanger’s payout ratio is currently 126.44%.

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.