Amundi Buys 37,400 Shares of Tanger Inc. (NYSE:SKT)

Amundi raised its stake in shares of Tanger Inc. (NYSE:SKT) by 48.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,067 shares of the real estate investment trust’s stock after acquiring an additional 37,400 shares during the quarter. Amundi owned approximately 0.10% of Tanger worth $3,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mutual of America Capital Management LLC boosted its position in Tanger by 1.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 319 shares in the last quarter. DAVENPORT & Co LLC boosted its position in Tanger by 1.4% during the 4th quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust’s stock valued at $1,074,000 after acquiring an additional 425 shares in the last quarter. GAMMA Investing LLC boosted its position in Tanger by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 514 shares in the last quarter. Exchange Traded Concepts LLC boosted its position 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, Louisiana State Employees Retirement System boosted its position in Tanger by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the real estate investment trust’s stock valued at $1,826,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BMO Capital Markets assumed coverage on Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Tanger in a report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

Insider Buying and Selling

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction dated 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 transaction, the chief operating officer now owns 113,158 shares in the company, 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 SEC, which is accessible through this link. 5.80% of the stock is currently owned by company insiders.

Tanger Stock Performance

Shares of SKT stock opened at $31.90 on Monday. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 36.67, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. 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 business has a fifty day moving average of $33.72 and a 200 day moving average of $33.90. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57.

Tanger (NYSE:SKT) last issued its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $132.17 million during the quarter, compared to analyst estimates of $129.10 million. Tanger had a return on equity of 16.16% and a net margin of 18.65%. As a group, research analysts expect that Tanger Inc. will post 2.24 earnings per share for the current year.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.275 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.45%. Tanger’s dividend payout ratio (DPR) is 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.