Intrust Bank NA Has $475,000 Stake in Tanger Inc. (NYSE:SKT)

Intrust Bank NA boosted its holdings in Tanger Inc. (NYSE:SKT) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,915 shares of the real estate investment trust’s stock after acquiring an additional 714 shares during the quarter. Intrust Bank NA’s holdings in Tanger were worth $475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised 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 purchasing an additional 514 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Tanger by 415.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust’s stock worth $95,000 after buying an additional 2,249 shares in the last quarter. KBC Group NV raised its position in Tanger by 21.6% in 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. Exchange Traded Concepts LLC lifted its stake in Tanger by 12.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 583 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in Tanger during the 4th quarter worth $200,000. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SKT. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price target on the stock. The Goldman Sachs Group raised shares of Tanger from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $39.00 to $40.00 in a research report on Friday. Finally, BMO Capital Markets initiated coverage on Tanger in a report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tanger has a consensus rating of “Moderate Buy” and a consensus price target of $36.63.

Insider Buying and Selling

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is currently owned by insiders.

Tanger Stock Up 0.0 %

SKT opened at $32.88 on Monday. The company’s 50-day moving average price is $33.64 and its two-hundred day moving average price is $34.02. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 2.97 and a beta of 1.88.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS 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 business had revenue of $132.17 million for the quarter, compared to the consensus estimate of $129.10 million. As a group, equities analysts expect that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, January 31st. Tanger’s dividend payout ratio (DPR) is currently 126.44%.

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.