Metis Global Partners LLC Has $374,000 Holdings in Tanger Inc. (NYSE:SKT)

Metis Global Partners LLC grew its position in Tanger Inc. (NYSE:SKT) by 29.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,261 shares of the real estate investment trust’s stock after purchasing an additional 2,577 shares during the quarter. Metis Global Partners LLC’s holdings in Tanger were worth $374,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Tanger by 44.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 393 shares during the period. EMC Capital Management increased its position in Tanger by 5.1% during the first quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock worth $422,000 after acquiring an additional 697 shares during the period. American International Group Inc. raised its stake in Tanger by 1.5% in the 1st quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock worth $1,671,000 after purchasing an additional 813 shares in the last quarter. Blue Trust Inc. boosted its holdings in Tanger by 1,412.1% in the 2nd 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. Finally, KBC Group NV grew its position 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 worth $122,000 after purchasing an additional 881 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Performance

Shares of Tanger stock opened at $36.10 on Tuesday. The company’s 50 day moving average price is $33.40 and its two-hundred day moving average price is $29.82. The firm has a market capitalization of $4.00 billion, a P/E ratio of 41.98, a P/E/G ratio of 2.80 and a beta of 1.88. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. Tanger Inc. has a fifty-two week low of $24.72 and a fifty-two week high of $36.46.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share 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 the consensus estimate of $125.80 million. Tanger had a return on equity of 16.25% and a net margin of 18.55%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, equities analysts forecast that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.275 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.05%. Tanger’s dividend payout ratio (DPR) is presently 127.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of Tanger from a “neutral” rating to a “buy” rating and lifted their price target for the company from $35.00 to $40.00 in a research report on Monday, November 11th. Compass Point boosted their target price on shares of Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price target on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday. Evercore ISI lifted their price objective on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Scotiabank upped their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Tanger currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.86.

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.