Tanger Inc. (NYSE:SKT – Get Free Report) COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Tanger Stock Up 0.5 %
Shares of SKT stock opened at $31.90 on Friday. The stock’s 50 day simple moving average is $33.77 and its 200 day simple moving average is $33.84. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57. 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 company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 36.67, a PEG ratio of 2.97 and a beta of 1.88.
Tanger (NYSE:SKT – Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $132.17 million for the quarter, compared to analyst estimates of $129.10 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. As a group, research analysts predict that Tanger Inc. will post 2.24 EPS for the current year.
Tanger Announces Dividend
Hedge Funds Weigh In On Tanger
Institutional investors have recently made changes to their positions in the business. FMR LLC grew its holdings in Tanger by 24.9% in the 4th quarter. FMR LLC now owns 9,397,189 shares of the real estate investment trust’s stock valued at $320,726,000 after buying an additional 1,873,835 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Tanger by 78.6% in the fourth quarter. Nuveen Asset Management LLC now owns 1,714,769 shares of the real estate investment trust’s stock worth $58,525,000 after acquiring an additional 754,429 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Tanger by 34.0% in the fourth quarter. Wellington Management Group LLP now owns 2,748,467 shares of the real estate investment trust’s stock worth $93,805,000 after acquiring an additional 697,291 shares during the last quarter. Northern Trust Corp increased its position in Tanger by 56.4% during the fourth quarter. Northern Trust Corp now owns 1,817,052 shares of the real estate investment trust’s stock worth $62,016,000 after acquiring an additional 655,237 shares during the period. Finally, Norges Bank acquired a new position in Tanger during the 4th quarter valued at $22,239,000. 85.23% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on SKT. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price objective for the company. BMO Capital Markets started coverage on Tanger in a research note on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target for the company. Finally, The Goldman Sachs Group boosted their price target on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tanger has a consensus rating of “Hold” and a consensus target price of $36.00.
Get Our Latest Stock Report on SKT
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.
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