Nomura Asset Management Co. Ltd. Boosts Holdings in Tanger Inc. (NYSE:SKT)

Nomura Asset Management Co. Ltd. grew its position in Tanger Inc. (NYSE:SKT) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,420 shares of the real estate investment trust’s stock after purchasing an additional 9,850 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.13% of Tanger worth $4,963,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Rhumbline Advisers grew its stake in Tanger by 2.6% during the 4th quarter. Rhumbline Advisers now owns 399,556 shares of the real estate investment trust’s stock worth $13,637,000 after buying an additional 10,283 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Tanger by 4.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 163,420 shares of the real estate investment trust’s stock worth $5,560,000 after acquiring an additional 7,647 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tanger by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,997,100 shares of the real estate investment trust’s stock valued at $68,161,000 after acquiring an additional 31,750 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Tanger in the 4th quarter valued at approximately $709,000. Finally, GAMMA Investing LLC boosted its stake 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 purchasing an additional 514 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Stock Performance

NYSE SKT opened at $33.98 on Wednesday. The firm has a market capitalization of $3.83 billion, a P/E ratio of 39.05, a PEG ratio of 2.97 and a beta of 1.88. The stock has a 50-day simple moving average of $33.65 and a two-hundred day simple moving average of $34.06. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57.

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

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.24%. Tanger’s dividend payout ratio is presently 126.44%.

Analysts Set New Price Targets

A number of research analysts have issued reports 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 price target for the company. BMO Capital Markets assumed coverage on Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target for the company. Finally, The Goldman Sachs Group raised Tanger from a “neutral” rating to a “buy” rating and increased their price objective for the company from $39.00 to $40.00 in a report on Friday, March 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.63.

Insiders Place Their Bets

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at $3,664,056.04. This represents a 9.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.80% of the company’s stock.

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.