Zurcher Kantonalbank Zurich Cantonalbank Purchases 27,583 Shares of Tanger Inc. (NYSE:SKT)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tanger Inc. (NYSE:SKT) by 60.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,916 shares of the real estate investment trust’s stock after acquiring an additional 27,583 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Tanger worth $2,489,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SKT. Loomis Sayles & Co. L P boosted its position in Tanger by 3,393.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,663 shares during the last quarter. GAMMA Investing LLC boosted its position in Tanger by 24.9% during the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 514 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Tanger by 415.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust’s stock worth $95,000 after purchasing an additional 2,249 shares in the last quarter. KBC Group NV boosted its position in shares of Tanger by 31.5% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 881 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Tanger during the 3rd quarter worth about $160,000. Institutional investors own 85.23% of the company’s stock.

Tanger Trading Up 0.5 %

SKT opened at $31.90 on Monday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57. The firm has a market capitalization of $3.60 billion, a PE ratio of 36.67, a P/E/G ratio of 2.97 and a beta of 1.88. The company’s 50-day moving average is $33.72 and its 200 day moving average is $33.90.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm 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%. As a group, research analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.275 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.45%. Tanger’s dividend payout ratio (DPR) is 126.44%.

Insider Buying and Selling at Tanger

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the sale, the chief operating officer now owns 113,158 shares in the company, valued at $3,664,056.04. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets assumed 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus 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.