1,987 Shares in Tanger Inc. (NYSE:SKT) Bought by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. purchased a new stake in shares of Tanger Inc. (NYSE:SKT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,987 shares of the real estate investment trust’s stock, valued at approximately $68,000.

Other institutional investors have also bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its holdings in shares of Tanger by 232.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 733 shares during the last quarter. Coppell Advisory Solutions LLC increased its stake in Tanger by 144.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 1,399 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Tanger by 415.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 2,249 shares during the period. FIL Ltd raised its position in Tanger by 16.2% during the fourth quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 401 shares during the period. Finally, KBC Group NV lifted its stake in shares of Tanger by 21.6% in the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 795 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Performance

Shares of Tanger stock opened at $28.81 on Tuesday. 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 fifty day moving average is $31.33 and its two-hundred day moving average is $33.38. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The company has a market capitalization of $3.26 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18.

Tanger (NYSE:SKT) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $129.29 million during the quarter, compared to analyst estimates of $128.24 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, analysts expect that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, April 30th. This is an increase from Tanger’s previous quarterly dividend of $0.28. Tanger’s payout ratio is currently 139.29%.

Insider Activity

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction 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. 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 this link. Insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SKT. Scotiabank cut their target price on Tanger from $38.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group raised shares of Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $40.00 in a research note on Friday, March 28th. BMO Capital Markets initiated coverage on shares of 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, Evercore ISI upgraded shares of Tanger to a “hold” rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.