Tanger Inc. (NYSE:SKT) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC increased its position in shares of Tanger Inc. (NYSE:SKT) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 511,051 shares of the real estate investment trust’s stock after acquiring an additional 7,998 shares during the quarter. Fisher Asset Management LLC owned approximately 0.46% of Tanger worth $17,442,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC boosted its position in Tanger by 55.3% during the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock worth $2,393,000 after acquiring an additional 25,683 shares during the last quarter. Rhumbline Advisers boosted its position in Tanger by 2.6% during the fourth 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 last quarter. Asset Management One Co. Ltd. boosted its position 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 acquiring an additional 7,647 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tanger by 1.1% during 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 acquiring an additional 21,793 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Tanger by 24.9% during the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 514 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Performance

NYSE:SKT opened at $35.56 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.97 and a beta of 1.91. The firm’s fifty day simple moving average is $33.84 and its 200 day simple moving average is $33.59. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57.

Tanger (NYSE:SKT) last posted its 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 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, equities research analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The firm also recently announced 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 dividend yield of 3.09%. Tanger’s payout ratio is 126.44%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price on the stock. Citigroup lifted their price target on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Finally, Bank of America upgraded shares of Tanger from a “neutral” rating to a “buy” rating and lifted their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. Five equities 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, the stock has a consensus rating of “Hold” and a consensus target price of $36.00.

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.