Tanger Inc. (NYSE:SKT) Shares Acquired by Inceptionr LLC

Inceptionr LLC lifted its position in shares of Tanger Inc. (NYSE:SKT) by 128.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,807 shares of the real estate investment trust’s stock after acquiring an additional 10,586 shares during the period. Inceptionr LLC’s holdings in Tanger were worth $642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC grew its stake in Tanger by 55.3% in the 3rd quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock valued at $2,393,000 after acquiring an additional 25,683 shares during the period. Rhumbline Advisers grew its stake in Tanger by 2.6% in the 4th quarter. Rhumbline Advisers now owns 399,556 shares of the real estate investment trust’s stock valued at $13,637,000 after acquiring an additional 10,283 shares during the period. Asset Management One Co. Ltd. grew its stake in Tanger by 4.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 163,420 shares of the real estate investment trust’s stock valued at $5,560,000 after acquiring an additional 7,647 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Tanger by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock valued at $65,210,000 after acquiring an additional 21,793 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Tanger in the 4th quarter valued at $709,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Trading Down 1.5 %

Shares of SKT stock opened at $33.63 on Friday. The stock’s fifty day moving average is $33.91 and its two-hundred day moving average is $33.71. 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 $3.79 billion, a P/E ratio of 38.66, a PEG ratio of 2.97 and a beta of 1.88. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57.

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

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued 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 dividend yield of 3.27%. Tanger’s dividend payout ratio is presently 126.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SKT. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research note on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. BMO Capital Markets started coverage on shares of Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target on the stock. Citigroup raised their price objective on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.00 to $40.00 in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Tanger currently has an average 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.