Tanger Inc. (NYSE:SKT) Stake Lowered by Aew Capital Management L P

Aew Capital Management L P cut its stake in Tanger Inc. (NYSE:SKT) by 99.5% during the fourth quarter, HoldingsChannel reports. 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 institutional investors have also recently bought and sold shares of SKT. FMR LLC raised its stake in shares of Tanger by 32.2% during the 3rd quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock worth $249,625,000 after purchasing an additional 1,832,261 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Tanger by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock worth $65,210,000 after buying an additional 21,793 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tanger by 387.7% in the third 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 buying an additional 616,417 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Tanger by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 601,266 shares of the real estate investment trust’s stock valued at $20,521,000 after acquiring an additional 30,618 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position 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 acquiring an additional 7,998 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Performance

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. The stock’s 50 day moving average price is $33.82 and its two-hundred day moving average price is $33.45. The firm has a market capitalization of $4.00 billion, a P/E ratio of 40.75, a price-to-earnings-growth ratio of 2.97 and a beta of 1.91. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57.

Tanger (NYSE:SKT) last announced 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 for 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%. On average, equities analysts forecast that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

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

Analyst Upgrades and Downgrades

SKT has been the subject of several analyst reports. Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $40.00 in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a research report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target for the company. Evercore ISI increased their price objective on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Citigroup raised their price objective on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their target price on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.