Victory Capital Management Inc. Has $1.06 Million Position in Tanger Inc. (NYSE:SKT)

Victory Capital Management Inc. raised its position in shares of Tanger Inc. (NYSE:SKT) by 46.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,909 shares of the real estate investment trust’s stock after purchasing an additional 9,739 shares during the quarter. Victory Capital Management Inc.’s holdings in Tanger were worth $1,055,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P increased its stake in shares of 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 acquiring an additional 1,663 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Tanger by 24.9% in the fourth 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. Smartleaf Asset Management LLC increased its stake in shares of Tanger by 415.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust’s stock worth $95,000 after acquiring an additional 2,249 shares during the last quarter. KBC Group NV increased its stake in shares of Tanger by 31.5% in the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 881 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Tanger in the third quarter worth $160,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Trading Down 1.5 %

Tanger stock opened at $32.24 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.97 and a beta of 1.88. Tanger Inc. has a one year low of $25.94 and a one year high of $37.57. The company’s fifty day moving average price is $33.66 and its two-hundred day moving average price is $33.91.

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

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Friday, January 31st. Tanger’s dividend payout ratio (DPR) is 126.44%.

Insider Buying and Selling at Tanger

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the sale, the chief operating officer now directly owns 113,158 shares in the company, valued at $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed 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. BMO Capital Markets initiated coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Tanger currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Tanger Company 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.