Tanger Inc. (NYSE:SKT) Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Tanger Inc. (NYSE:SKT) by 38.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,061 shares of the real estate investment trust’s stock after buying an additional 16,203 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tanger were worth $1,982,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its stake in shares of Tanger by 98.9% in the 4th quarter. Teacher Retirement System of Texas now owns 62,696 shares of the real estate investment trust’s stock valued at $2,140,000 after acquiring an additional 31,175 shares during the period. Maryland State Retirement & Pension System raised its position in Tanger by 0.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust’s stock valued at $1,272,000 after purchasing an additional 349 shares during the period. Xponance Inc. lifted its stake in Tanger by 9.5% during the fourth quarter. Xponance Inc. now owns 7,642 shares of the real estate investment trust’s stock worth $261,000 after purchasing an additional 664 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Tanger by 33.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 557,168 shares of the real estate investment trust’s stock worth $19,016,000 after buying an additional 138,456 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in shares of Tanger in the fourth quarter valued at $340,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Up 4.7 %

SKT stock opened at $33.37 on Tuesday. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57. The company’s 50 day moving average price is $33.65 and its 200 day moving average price is $33.99. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 2.97 and a beta of 1.88.

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

Tanger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.30%. Tanger’s dividend payout ratio is currently 126.44%.

Insider Activity

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SKT. Deutsche Bank Aktiengesellschaft started coverage on Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 target price on the stock. BMO Capital Markets began coverage on shares of Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.00.

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.