Tanger Inc. (NYSE:SKT) Shares Bought by Bokf Na

Bokf Na boosted its holdings in shares of Tanger Inc. (NYSE:SKT) by 23.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,956 shares of the real estate investment trust’s stock after purchasing an additional 1,902 shares during the period. Bokf Na’s holdings in Tanger were worth $325,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd lifted its stake in Tanger by 232.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 733 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in shares of Tanger by 144.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 1,399 shares during the period. GAMMA Investing LLC grew 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 purchasing an additional 514 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Tanger by 415.7% in 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 buying an additional 2,249 shares during the period. Finally, FIL Ltd lifted its position in Tanger by 16.2% in the 4th quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 401 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

SKT has been the subject of a number of recent research reports. Scotiabank cut their price target on Tanger from $38.00 to $33.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group raised shares of Tanger from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $39.00 to $40.00 in a research report on Friday, March 28th. BMO Capital Markets started coverage on shares of Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Finally, Evercore ISI upgraded shares of Tanger to a “hold” rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Tanger presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Tanger Stock Up 1.0 %

Shares of NYSE SKT opened at $30.15 on Friday. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. The firm’s 50-day simple moving average is $31.92 and its 200 day simple moving average is $33.67. 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 company has a market cap of $3.41 billion, a price-to-earnings ratio of 34.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The business had revenue of $129.29 million during the quarter, compared to analyst estimates of $128.24 million. During the same quarter last year, the business posted $0.52 earnings per share. Tanger’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Tanger’s previous quarterly dividend of $0.28. This represents a $1.17 dividend on an annualized basis and a yield of 3.88%. Tanger’s dividend payout ratio is presently 139.29%.

Insider Activity

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.70% of the company’s stock.

Tanger Company 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.