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

Maryland State Retirement & Pension System raised its stake in Tanger Inc. (NYSE:SKT) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 37,277 shares of the real estate investment trust’s stock after purchasing an additional 349 shares during the period. Maryland State Retirement & Pension System’s holdings in Tanger were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Natixis Advisors LLC boosted its stake in Tanger by 55.3% in the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock valued at $2,393,000 after acquiring an additional 25,683 shares in the last quarter. Rhumbline Advisers boosted its stake in Tanger by 2.6% in the fourth quarter. Rhumbline Advisers now owns 399,556 shares of the real estate investment trust’s stock valued at $13,637,000 after acquiring an additional 10,283 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Tanger by 4.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 163,420 shares of the real estate investment trust’s stock worth $5,560,000 after buying an additional 7,647 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Tanger by 1.1% during 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 period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Tanger during the fourth quarter worth about $709,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Price Performance

Shares of NYSE:SKT opened at $31.87 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 company has a market cap of $3.59 billion, a P/E ratio of 36.63, a PEG ratio of 2.97 and a beta of 1.88. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The company has a 50-day moving average price of $33.65 and a 200 day moving average price of $33.95.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $132.17 million during the quarter, compared to the consensus estimate of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. Research analysts predict that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued 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 yield of 3.45%. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

Insider Buying and Selling at Tanger

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the 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 completion of the transaction, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SKT shares. BMO Capital Markets started coverage on shares of Tanger in a research note on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 target price for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.00.

Tanger 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.