BNP Paribas Financial Markets Has $1.88 Million Stock Holdings in Tanger Inc. (NYSE:SKT)

BNP Paribas Financial Markets increased its stake in Tanger Inc. (NYSE:SKT) by 21.2% during the third quarter, Holdings Channel.com reports. The fund owned 56,645 shares of the real estate investment trust’s stock after buying an additional 9,891 shares during the period. BNP Paribas Financial Markets’ holdings in Tanger were worth $1,879,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Tanger by 32.2% in the 3rd quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock worth $249,625,000 after purchasing an additional 1,832,261 shares during the period. Truvestments Capital LLC bought a new stake in Tanger during the third quarter valued at $160,000. Loomis Sayles & Co. L P grew its holdings in Tanger by 3,393.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 1,663 shares during the period. Fisher Asset Management LLC raised its position in shares of Tanger by 5.2% in the 3rd quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust’s stock worth $16,691,000 after acquiring an additional 25,014 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Tanger by 6.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 36,423 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 2,165 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total transaction of $108,810.00. Following the sale, the chief accounting officer now owns 59,641 shares in the company, valued at $2,163,179.07. This represents a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.80% of the company’s stock.

Tanger Stock Up 0.3 %

Tanger stock opened at $36.30 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $4.02 billion, a P/E ratio of 42.21, a P/E/G ratio of 2.88 and a beta of 1.90. The firm has a 50 day moving average price of $34.86 and a 200-day moving average price of $30.73. Tanger Inc. has a twelve month low of $25.67 and a twelve month high of $37.57.

Tanger (NYSE:SKT) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). Tanger had a return on equity of 16.25% and a net margin of 18.55%. The firm had revenue of $133.00 million during the quarter, compared to analysts’ expectations of $125.80 million. During the same period in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that Tanger Inc. will post 2.11 EPS for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.275 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.03%. Tanger’s dividend payout ratio is presently 127.91%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SKT. Citigroup increased their price target on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Scotiabank boosted their price objective on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Compass Point upped their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $40.00 in a research report on Monday, November 11th. Finally, The Goldman Sachs Group increased their price objective on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Tanger currently has a consensus rating of “Moderate Buy” and an average target price of $34.86.

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.