Y Intercept Hong Kong Ltd Takes Position in Tanger Inc. (NYSE:SKT)

Y Intercept Hong Kong Ltd bought a new stake in Tanger Inc. (NYSE:SKT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,786 shares of the real estate investment trust’s stock, valued at approximately $709,000.

Several other institutional investors have also modified their holdings of SKT. Loomis Sayles & Co. L P grew its position 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 valued at $57,000 after purchasing an additional 1,663 shares during the period. GAMMA Investing LLC grew its position 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 valued at $88,000 after purchasing an additional 514 shares during the period. KBC Group NV grew its position 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 valued at $122,000 after purchasing an additional 881 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tanger by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,107 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Tanger in the third quarter valued at about $160,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Price Performance

Shares of SKT stock opened at $35.45 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 firm’s 50-day moving average is $33.82 and its two-hundred day moving average is $33.45. Tanger Inc. has a 12 month low of $25.94 and a 12 month high of $37.57. The company has a market capitalization of $4.00 billion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.97 and a beta of 1.91.

Tanger (NYSE:SKT) last issued its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $129.10 million. Analysts predict that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, January 31st. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Evercore ISI lifted their target price on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Citigroup boosted their price target on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. 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. BMO Capital Markets began coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price target on the stock. Finally, Bank of America upgraded shares of Tanger from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $40.00 in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently 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.