Tanger Inc. (NYSE:SKT) Shares Acquired by Beck Capital Management LLC

Beck Capital Management LLC boosted its stake in Tanger Inc. (NYSE:SKT) by 77.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 109,276 shares of the real estate investment trust’s stock after purchasing an additional 47,642 shares during the quarter. Beck Capital Management LLC owned about 0.10% of Tanger worth $3,626,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SKT. GAMMA Investing LLC lifted its stake in shares of Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 393 shares in the last quarter. Blue Trust Inc. grew its stake in Tanger by 1,412.1% during the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 819 shares during the period. KBC Group NV increased 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 worth $122,000 after acquiring an additional 881 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Tanger by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 30,491 shares of the real estate investment trust’s stock valued at $827,000 after acquiring an additional 897 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of Tanger by 7.7% during the 2nd quarter. Inspire Investing LLC now owns 13,034 shares of the real estate investment trust’s stock valued at $353,000 after acquiring an additional 931 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Transactions at Tanger

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

Tanger Price Performance

SKT stock opened at $36.97 on Monday. The stock’s 50 day moving average is $34.46 and its two-hundred day moving average is $30.44. Tanger Inc. has a 52-week low of $24.72 and a 52-week high of $37.57. The company has a market capitalization of $4.09 billion, a PE ratio of 42.99, a P/E/G ratio of 2.89 and a beta of 1.88. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40.

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

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.98%. The ex-dividend date was Thursday, October 31st. Tanger’s payout ratio is currently 127.91%.

Wall Street Analysts Forecast Growth

SKT has been the subject of several recent research reports. Citigroup increased their price target on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their target price on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Scotiabank upped their price target on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Evercore ISI lifted their price objective on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Compass Point boosted their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.86.

Tanger 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.