Tanger Inc. (NYSE:SKT) Shares Bought by EMC Capital Management

EMC Capital Management boosted its holdings in shares of Tanger Inc. (NYSE:SKT) by 8,550.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,274 shares of the real estate investment trust’s stock after purchasing an additional 14,109 shares during the period. EMC Capital Management’s holdings in Tanger were worth $487,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Ibex Wealth Advisors acquired a new stake in shares of Tanger during the 4th quarter valued at $733,000. KBC Group NV boosted its position in shares of Tanger by 21.6% in the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 795 shares during the period. Exchange Traded Concepts LLC increased its stake in Tanger by 12.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 583 shares in the last quarter. ARS Investment Partners LLC acquired a new stake in Tanger during the 4th quarter worth about $555,000. Finally, HB Wealth Management LLC boosted its holdings in shares of Tanger by 19.9% in the fourth quarter. HB Wealth Management LLC now owns 8,425 shares of the real estate investment trust’s stock worth $288,000 after buying an additional 1,399 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Insider Activity at Tanger

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 owns 59,641 shares in the company, valued at $2,163,179.07. This represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SKT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target for the company. The Goldman Sachs Group increased their target price on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Citigroup lifted their price target on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Compass Point raised their price objective on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America raised Tanger from a “neutral” rating to a “buy” rating and lifted their target price for the company from $35.00 to $40.00 in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Tanger has an average rating of “Hold” and a consensus price target of $36.00.

Tanger Stock Performance

Shares of SKT stock opened at $33.12 on Thursday. Tanger Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $37.57. The stock’s 50-day moving average is $34.59 and its two-hundred day moving average is $32.58. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $3.67 billion, a P/E ratio of 38.24, a PEG ratio of 2.71 and a beta of 1.92.

Tanger (NYSE:SKT) last issued its quarterly earnings data 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). Tanger had a net margin of 18.55% and a return on equity of 16.25%. 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 business posted $0.50 EPS. Tanger’s revenue was up 13.3% compared to the same quarter last year. Analysts predict that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, January 31st. Tanger’s dividend payout ratio is 127.91%.

Tanger Company 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.