Natixis Advisors LLC Has $1.63 Million Stock Holdings in Tanger Inc. (NYSE:SKT)

Natixis Advisors LLC reduced its stake in Tanger Inc. (NYSE:SKT) by 33.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 47,650 shares of the real estate investment trust’s stock after selling 24,481 shares during the period. Natixis Advisors LLC’s holdings in Tanger were worth $1,626,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in Tanger by 2.6% during the 4th quarter. Rhumbline Advisers now owns 399,556 shares of the real estate investment trust’s stock worth $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% during the fourth quarter. Asset Management One Co. Ltd. now owns 163,420 shares of the real estate investment trust’s stock worth $5,560,000 after purchasing an additional 7,647 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Tanger by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock worth $65,210,000 after purchasing an additional 21,793 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Tanger in the fourth quarter valued at approximately $709,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of Tanger by 5.2% during the 3rd quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust’s stock worth $16,691,000 after buying an additional 25,014 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on SKT. 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 objective for the company. 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 for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.00.

Tanger Stock Up 4.7 %

Tanger stock opened at $33.37 on Tuesday. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 38.35, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. The firm’s fifty day moving average price is $33.65 and its two-hundred day moving average price is $33.99. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09.

Tanger (NYSE:SKT) last announced 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. The business had revenue of $132.17 million for the quarter, compared to analysts’ expectations of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. On average, equities research analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.30%. Tanger’s dividend payout ratio (DPR) is currently 126.44%.

Insider Activity 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 value of $404,750.00. Following the completion of the sale, the chief operating officer now directly owns 113,158 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. 5.80% of the stock is currently owned by insiders.

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.