Mutual of America Capital Management LLC Sells 1,526 Shares of Tanger Inc. (NYSE:SKT)

Mutual of America Capital Management LLC trimmed its stake in shares of Tanger Inc. (NYSE:SKT) by 8.5% in the third quarter, Holdings Channel.com reports. The fund owned 16,448 shares of the real estate investment trust’s stock after selling 1,526 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Tanger were worth $546,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in Tanger by 1,412.1% during the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 819 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Tanger during the second quarter valued at $27,000. Whittier Trust Co. acquired a new stake in Tanger during the 2nd quarter worth about $33,000. GAMMA Investing LLC raised its position in shares of Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 393 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Tanger by 418.6% in the 2nd quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,398 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Performance

Shares of SKT stock opened at $36.87 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The firm has a fifty day simple moving average of $34.02 and a two-hundred day simple moving average of $30.19. Tanger Inc. has a 12 month low of $24.72 and a 12 month high of $37.01. The firm has a market capitalization of $4.08 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 2.85 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 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.31). Tanger had a return on equity of 16.25% and a net margin of 18.55%. The business had revenue of $133.00 million for the quarter, compared to the consensus estimate of $125.80 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. Analysts forecast that Tanger Inc. will post 2.11 EPS for the current fiscal year.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Thursday, October 31st. Tanger’s dividend payout ratio (DPR) is presently 127.91%.

Insider Activity

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the sale, the chief accounting officer now owns 59,641 shares in the company, valued at $2,163,179.07. This represents a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

SKT has been the subject of a number of research analyst reports. Scotiabank lifted their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Evercore ISI lifted their price objective on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Compass Point increased their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Citigroup lifted their price target on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their price objective on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.86.

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.