Tanger Inc. (NYSE:SKT) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in Tanger Inc. (NYSE:SKT) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,277 shares of the real estate investment trust’s stock after acquiring an additional 349 shares during the period. Maryland State Retirement & Pension System’s holdings in Tanger were worth $1,272,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC lifted its holdings in Tanger by 1.9% in 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 acquiring an additional 319 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Tanger by 1.4% during the fourth quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust’s stock worth $1,074,000 after purchasing an additional 425 shares in the last quarter. GAMMA Investing LLC lifted its stake in Tanger by 24.9% during the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 514 shares in the last quarter. Exchange Traded Concepts LLC lifted 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 purchasing an additional 583 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Tanger by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the real estate investment trust’s stock worth $1,826,000 after purchasing an additional 600 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SKT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 price target on the stock. BMO Capital Markets initiated coverage on Tanger in a research note on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.00.

Tanger Stock Down 1.1 %

Tanger stock opened at $31.87 on Friday. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57. The stock’s fifty day simple moving average is $33.65 and its 200-day simple moving average is $33.95. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $3.59 billion, a P/E ratio of 36.63, a P/E/G ratio of 2.97 and a beta of 1.88.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Tanger had a return on equity of 16.16% and a net margin of 18.65%. The business had revenue of $132.17 million for the quarter, compared to analyst estimates of $129.10 million. As a group, equities analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.45%. The ex-dividend date was Friday, January 31st. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

Insider Activity at Tanger

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the transaction, the chief operating officer now owns 113,158 shares of the company’s stock, valued at $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

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.