Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in Tanger Inc. (NYSE:SKT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Tanger Inc. (NYSE:SKT) by 38.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,061 shares of the real estate investment trust’s stock after buying an additional 16,203 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.05% of Tanger worth $1,982,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SKT. FMR LLC increased its stake in shares of Tanger by 32.2% in the third quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock worth $249,625,000 after acquiring an additional 1,832,261 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tanger by 387.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust’s stock worth $25,728,000 after purchasing an additional 616,417 shares during the period. Barclays PLC raised its stake in shares of Tanger by 174.7% during the 3rd quarter. Barclays PLC now owns 240,281 shares of the real estate investment trust’s stock valued at $7,973,000 after buying an additional 152,796 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Tanger during the 4th quarter valued at about $4,972,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Tanger by 33.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 557,168 shares of the real estate investment trust’s stock worth $19,016,000 after buying an additional 138,456 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SKT has been the subject of a number of analyst reports. BMO Capital Markets started coverage on Tanger in a report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tanger in a research note on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price for the company. 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 stock presently has an average rating of “Hold” and a consensus target price of $36.00.

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value of $404,750.00. Following the transaction, the chief operating officer now directly owns 113,158 shares in the company, valued at $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.80% of the stock is currently owned by corporate insiders.

Tanger Stock Up 4.7 %

SKT stock opened at $33.37 on Tuesday. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The firm has a 50-day simple moving average of $33.65 and a 200-day simple moving average of $33.99. 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 stock has a market capitalization of $3.76 billion, a P/E ratio of 38.35, a P/E/G ratio of 2.97 and a beta of 1.88.

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

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given 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 yield of 3.30%. Tanger’s 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.