Advisors Preferred LLC Sells 35,915 Shares of Tanger Inc. (NYSE:SKT)

Advisors Preferred LLC lessened its position in Tanger Inc. (NYSE:SKT) by 18.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,933 shares of the real estate investment trust’s stock after selling 35,915 shares during the quarter. Advisors Preferred LLC owned 0.14% of Tanger worth $5,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its position in Tanger by 3,393.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,663 shares during the period. GAMMA Investing LLC grew its stake in shares of Tanger by 62.0% during the third quarter. GAMMA Investing LLC now owns 2,064 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 790 shares during the last quarter. KBC Group NV increased its holdings in shares of Tanger by 31.5% in the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 881 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tanger by 35.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust’s stock valued at $140,000 after acquiring an additional 1,107 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Tanger during the 3rd quarter worth approximately $151,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Transactions at Tanger

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total value of $108,810.00. Following the transaction, the chief accounting officer now owns 59,641 shares of the company’s stock, valued at approximately $2,163,179.07. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.80% of the company’s stock.

Tanger Stock Performance

Shares of SKT opened at $33.59 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40. The stock has a market cap of $3.72 billion, a P/E ratio of 39.06, a P/E/G ratio of 2.82 and a beta of 1.91. The business’s 50 day moving average price is $34.19 and its 200-day moving average price is $32.77. Tanger Inc. has a 52 week low of $25.85 and a 52 week high of $37.57.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). Tanger had a return on equity of 16.25% and a net margin of 18.55%. The firm had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $125.80 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Tanger’s revenue was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The business also recently declared 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 3.27%. The ex-dividend date of this dividend is Friday, January 31st. Tanger’s payout ratio is presently 127.91%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SKT shares. Compass Point boosted their price objective on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Evercore ISI increased their price target on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and upped their price objective for the company from $35.00 to $40.00 in a research note on Monday, November 11th. Citigroup lifted their price objective on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.00.

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.