Gallardo Leslie Swanson Sells 12,500 Shares of Tanger Inc. (NYSE:SKT) Stock

Tanger Inc. (NYSE:SKT) COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction that occurred 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 in the company, valued at approximately $3,664,056.04. The trade was a 9.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tanger Price Performance

NYSE:SKT opened at $31.69 on Friday. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $3.57 billion, a P/E ratio of 36.42, a P/E/G ratio of 2.97 and a beta of 1.88. The stock’s fifty day moving average is $33.82 and its two-hundred day moving average is $33.86.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $129.10 million. Equities analysts expect that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.47%. Tanger’s payout ratio is presently 126.44%.

Institutional Investors Weigh In On Tanger

Institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd grew its stake in shares of Tanger by 232.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 733 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Tanger by 3,393.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,663 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Tanger in the fourth quarter valued at $68,000. Coppell Advisory Solutions LLC grew its stake in Tanger by 144.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 1,399 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Tanger by 24.9% during the 4th 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. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SKT has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. BMO Capital Markets initiated coverage on Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a research report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.00.

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.