Swiss National Bank Raises Stake in Tanger Inc. (NYSE:SKT)

Swiss National Bank increased its stake in shares of Tanger Inc. (NYSE:SKT) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 215,100 shares of the real estate investment trust’s stock after buying an additional 1,500 shares during the period. Swiss National Bank owned about 0.19% of Tanger worth $7,341,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Loomis Sayles & Co. L P increased its stake in shares of Tanger by 3,393.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,663 shares during the last quarter. GAMMA Investing LLC increased its position in 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 buying an additional 514 shares during the last quarter. Smartleaf Asset Management LLC raised 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 valued at $95,000 after buying an additional 2,249 shares during the period. KBC Group NV lifted its position in shares of Tanger by 21.6% during the 4th quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 795 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Tanger during the 3rd quarter worth $160,000. Institutional investors own 85.23% of the company’s stock.

Insider Activity

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the transaction, the chief operating officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.80% of the company’s stock.

Tanger Stock Down 1.1 %

SKT opened at $31.87 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. Tanger Inc. has a one year low of $25.94 and a one year high of $37.57. The firm has a market capitalization of $3.59 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. The company has a fifty day moving average price of $33.65 and a 200-day moving average price of $33.95.

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 return on equity of 16.16% and a net margin of 18.65%. The firm had revenue of $132.17 million for the quarter, compared to analysts’ expectations of $129.10 million. Equities 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 $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Friday, January 31st. Tanger’s payout ratio is 126.44%.

Analyst Upgrades and Downgrades

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

About Tanger

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.