Investment Management Associates Inc. ADV Purchases 1,500 Shares of Tanger Inc. (NYSE:SKT)

Investment Management Associates Inc. ADV grew its position in shares of Tanger Inc. (NYSE:SKT) by 17.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,185 shares of the real estate investment trust’s stock after acquiring an additional 1,500 shares during the period. Tanger accounts for approximately 0.2% of Investment Management Associates Inc. ADV’s holdings, making the stock its 22nd largest holding. Investment Management Associates Inc. ADV’s holdings in Tanger were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Loomis Sayles & Co. L P boosted its stake in Tanger by 3,393.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,663 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 514 shares during the last quarter. KBC Group NV grew its holdings in shares of Tanger by 31.5% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 881 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Tanger by 35.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,107 shares during the period. Finally, Truvestments Capital LLC bought a new stake in Tanger in the third quarter worth $160,000. 85.23% of the stock is currently owned by institutional investors.

Tanger Price Performance

Shares of SKT stock opened at $35.89 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $3.97 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.87 and a beta of 1.91. The business’s 50 day moving average price is $33.77 and its 200-day moving average price is $33.16. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week 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, beating the consensus estimate of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.82%. The business had revenue of $132.17 million for the quarter, compared to analysts’ expectations of $129.10 million. On average, equities research analysts anticipate that Tanger Inc. will post 2.23 earnings per share for the current year.

Tanger Announces Dividend

The business 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. This represents a $1.10 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, January 31st. Tanger’s dividend payout ratio is currently 126.44%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SKT shares. Citigroup raised their price objective on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. 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 on the stock. Evercore ISI boosted their price objective on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Compass Point increased their price objective on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lifted their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.