Tanger Inc. (NYSE:SKT) Shares Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P raised its position in Tanger Inc. (NYSE:SKT) by 3,393.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,712 shares of the real estate investment trust’s stock after acquiring an additional 1,663 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Tanger were worth $57,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SKT. Price T Rowe Associates Inc. MD grew its holdings in shares of Tanger by 2.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,197 shares of the real estate investment trust’s stock valued at $1,808,000 after purchasing an additional 1,752 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Tanger by 1.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 155,134 shares of the real estate investment trust’s stock valued at $4,581,000 after buying an additional 2,284 shares during the period. GAMMA Investing LLC grew its stake in shares of Tanger by 44.6% in the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 393 shares in the last quarter. CWM LLC increased its position in shares of Tanger by 418.6% during the second quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,398 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Tanger by 1,412.1% in the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 819 shares in the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total transaction of $108,810.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.80% of the stock is currently owned by company insiders.

Tanger Stock Up 0.6 %

Shares of NYSE:SKT opened at $37.10 on Friday. The firm has a 50 day simple moving average of $34.25 and a 200-day simple moving average of $30.30. Tanger Inc. has a twelve month low of $24.72 and a twelve month high of $37.49. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $4.11 billion, a PE ratio of 43.14, a P/E/G ratio of 2.87 and a beta of 1.88.

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

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a $0.275 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.96%. Tanger’s dividend payout ratio (DPR) is presently 127.91%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SKT. Bank of America raised Tanger from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $40.00 in a research note on Monday, November 11th. Scotiabank upped their target price on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Compass Point lifted their price target 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. Evercore ISI increased their price objective 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. Finally, Citigroup lifted their price objective 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.