Pictet Asset Management Holding SA Has $1.12 Million Stock Holdings in Tanger Inc. (NYSE:SKT)

Pictet Asset Management Holding SA raised its holdings in shares of Tanger Inc. (NYSE:SKT) by 1.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 32,851 shares of the real estate investment trust’s stock after acquiring an additional 480 shares during the period. Pictet Asset Management Holding SA’s holdings in Tanger were worth $1,121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased 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 purchasing an additional 514 shares during the last quarter. Smartleaf Asset Management LLC grew 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 buying an additional 2,249 shares during the period. KBC Group NV increased 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 acquiring an additional 795 shares during the last quarter. Exchange Traded Concepts LLC raised 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 valued at $175,000 after acquiring an additional 583 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Tanger during the 4th quarter worth approximately $200,000. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SKT shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price on the stock. The Goldman Sachs Group raised Tanger from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $39.00 to $40.00 in a research note on Friday, March 28th. Finally, 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 target price for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Tanger has an average rating of “Moderate Buy” and a consensus price target of $36.63.

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.80% of the company’s stock.

Tanger Stock Performance

Shares of Tanger stock opened at $30.56 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. The stock’s 50-day moving average is $33.64 and its 200-day moving average is $34.05. Tanger Inc. has a one year low of $25.94 and a one year high of $37.57.

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

Tanger Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.60%. Tanger’s payout ratio is currently 126.44%.

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.