Swiss National Bank Buys 1,500 Shares of Tanger Inc. (NYSE:SKT)

Swiss National Bank increased its stake in shares of Tanger Inc. (NYSE:SKT) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 215,100 shares of the real estate investment trust’s stock after purchasing an additional 1,500 shares during the quarter. Swiss National Bank’s holdings in Tanger were worth $7,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Loomis Sayles & Co. L P increased its stake in shares of Tanger by 3,393.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,663 shares during the period. GAMMA Investing LLC grew its holdings in Tanger by 24.9% in the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 514 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of 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 acquiring an additional 2,249 shares during the last quarter. KBC Group NV boosted its holdings in shares of Tanger by 21.6% during the fourth quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 795 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Tanger in the third quarter worth about $160,000. Institutional investors own 85.23% of the company’s stock.

Insider Activity at Tanger

In related 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 transaction of $404,750.00. Following the sale, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. This represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is owned by corporate insiders.

Tanger Price Performance

Shares of SKT stock opened at $31.87 on Friday. The business’s fifty day moving average is $33.65 and its 200 day moving average is $33.95. 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 has a market cap of $3.59 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 2.97 and a beta of 1.88. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57.

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

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.45%. Tanger’s payout ratio is currently 126.44%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a research report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price target for the company. BMO Capital Markets assumed coverage on Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.00.

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.