Commonwealth Equity Services LLC Purchases 1,258 Shares of Tanger Inc. (NYSE:SKT)

Commonwealth Equity Services LLC grew its holdings in Tanger Inc. (NYSE:SKT) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 42,571 shares of the real estate investment trust’s stock after purchasing an additional 1,258 shares during the period. Commonwealth Equity Services LLC’s holdings in Tanger were worth $1,453,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SKT. GAMMA Investing LLC lifted its holdings in Tanger by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock valued at $88,000 after buying an additional 514 shares during the period. Smartleaf Asset Management LLC raised 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 valued at $95,000 after acquiring an additional 2,249 shares during the last quarter. 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 period. Exchange Traded Concepts LLC boosted its position in shares of Tanger by 12.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 583 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Tanger in the 4th quarter worth $200,000. Institutional investors and hedge funds 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 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 transaction, the chief operating officer now owns 113,158 shares in the company, valued at approximately $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. 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 insiders.

Tanger Stock Up 0.0 %

NYSE:SKT opened at $32.88 on Friday. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 2.97 and a beta of 1.88. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. The stock has a 50-day moving average price of $33.64 and a two-hundred day moving average price of $34.02. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57.

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

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Friday, January 31st. Tanger’s dividend payout ratio is 126.44%.

Analyst Ratings Changes

A number of research firms recently commented on SKT. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price objective for the company. BMO Capital Markets started 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. Finally, The Goldman Sachs Group upgraded shares of Tanger from a “neutral” rating to a “buy” rating and increased their price target for the company from $39.00 to $40.00 in a research report on Friday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.63.

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.