Aew Capital Management L P Reduces Stock Position in Tanger Inc. (NYSE:SKT)

Aew Capital Management L P reduced its holdings in shares of Tanger Inc. (NYSE:SKT) by 99.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,800 shares of the real estate investment trust’s stock after selling 524,490 shares during the quarter. Aew Capital Management L P’s holdings in Tanger were worth $96,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Metis Global Partners LLC grew its stake in Tanger by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 12,541 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 1,280 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Tanger by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 511,051 shares of the real estate investment trust’s stock worth $17,442,000 after purchasing an additional 7,998 shares during the period. Mutual of America Capital Management LLC increased its stake in Tanger by 1.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust’s stock valued at $572,000 after purchasing an additional 319 shares during the last quarter. Flputnam Investment Management Co. lifted its holdings in Tanger by 1,290.0% in the fourth quarter. Flputnam Investment Management Co. now owns 9,730 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 9,030 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Tanger during the fourth quarter valued at approximately $2,064,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. 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. BMO Capital Markets assumed coverage on Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price objective for the company. Finally, Evercore ISI raised their target price 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

Tanger Stock Performance

Shares of NYSE SKT opened at $35.45 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 2.97 and a beta of 1.91. The stock’s fifty day simple moving average is $33.82 and its 200 day simple moving average is $33.45.

Tanger (NYSE:SKT) last posted 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 for 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%. As a group, sell-side analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.10%. Tanger’s dividend payout ratio is 126.44%.

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.