Loomis Sayles & Co. L P Boosts Stake in Tanger Inc. (NYSE:SKT)

Loomis Sayles & Co. L P lifted its holdings in Tanger Inc. (NYSE:SKT) by 3,393.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,712 shares of the real estate investment trust’s stock after purchasing an additional 1,663 shares during the period. Loomis Sayles & Co. L P’s holdings in Tanger were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SKT. Natixis Advisors LLC increased its position in shares of Tanger by 55.3% in the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock valued at $2,393,000 after buying an additional 25,683 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Tanger by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,549 shares of the real estate investment trust’s stock worth $10,536,000 after acquiring an additional 38,036 shares in the last quarter. Bailard Inc. raised its position in Tanger by 64.4% during the second quarter. Bailard Inc. now owns 24,500 shares of the real estate investment trust’s stock worth $664,000 after acquiring an additional 9,600 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Tanger by 42.2% during the second quarter. Thrivent Financial for Lutherans now owns 368,612 shares of the real estate investment trust’s stock valued at $9,993,000 after purchasing an additional 109,388 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Tanger by 44.6% in the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Up 0.6 %

NYSE SKT opened at $37.10 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40. Tanger Inc. has a 52 week low of $24.72 and a 52 week high of $37.49. The business’s fifty day simple moving average is $34.25 and its 200-day simple moving average is $30.30. The firm has a market cap of $4.11 billion, a PE ratio of 43.14, a P/E/G ratio of 2.87 and a beta of 1.88.

Tanger (NYSE:SKT) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.31). The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $125.80 million. Tanger had a net margin of 18.55% and a return on equity of 16.25%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, equities analysts anticipate that Tanger Inc. will post 2.11 earnings per share for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.10 annualized dividend and a yield of 2.96%. Tanger’s dividend payout ratio (DPR) is 127.91%.

Analyst Ratings Changes

SKT has been the topic of several research analyst reports. Compass Point lifted their price objective on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Evercore ISI raised their price objective on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Citigroup raised their price target on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Three 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 an average price target of $34.86.

Insider Buying and Selling at Tanger

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total transaction of $108,810.00. Following the completion of the sale, the chief accounting officer now directly owns 59,641 shares in the company, valued at $2,163,179.07. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.80% 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.