Fisher Asset Management LLC Grows Holdings in Tanger Inc. (NYSE:SKT)

Fisher Asset Management LLC boosted its holdings in shares of Tanger Inc. (NYSE:SKT) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 503,053 shares of the real estate investment trust’s stock after purchasing an additional 25,014 shares during the period. Fisher Asset Management LLC owned approximately 0.45% of Tanger worth $16,691,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 393 shares during the period. Blue Trust Inc. increased its holdings in shares of Tanger by 1,412.1% in the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 819 shares during the period. KBC Group NV raised its stake in shares of Tanger by 31.5% during the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 881 shares during the last quarter. Beck Bode LLC lifted its holdings in shares of Tanger by 1.3% during the first quarter. Beck Bode LLC now owns 68,432 shares of the real estate investment trust’s stock worth $2,021,000 after purchasing an additional 892 shares during the period. Finally, Arizona State Retirement System grew its position in Tanger by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 30,491 shares of the real estate investment trust’s stock valued at $827,000 after buying an additional 897 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on SKT shares. Bank of America upgraded shares of Tanger from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. The Goldman Sachs Group raised their price objective on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Citigroup boosted their target price on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Scotiabank increased their price target on shares of Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Compass Point lifted their price objective on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Tanger has a consensus rating of “Moderate Buy” and a consensus target price of $34.86.

Tanger Stock Up 0.6 %

SKT opened at $37.10 on Thursday. The business’s fifty day simple moving average is $34.13 and its 200 day simple moving average is $30.25. Tanger Inc. has a 52 week low of $24.72 and a 52 week high of $37.49. The firm has a market cap of $4.11 billion, a P/E ratio of 42.87, a PEG ratio of 2.87 and a beta of 1.88. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). The firm had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $125.80 million. Tanger had a return on equity of 16.25% and a net margin of 18.55%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, equities research analysts anticipate that Tanger Inc. will post 2.11 EPS for the current fiscal year.

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Thursday, October 31st. Tanger’s dividend payout ratio (DPR) is 127.91%.

Insider Activity

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the sale, the chief accounting officer now owns 59,641 shares of the company’s stock, valued at $2,163,179.07. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.