Pensionfund DSM Netherlands Sells 6,000 Shares of Tanger Inc. (NYSE:SKT)

Pensionfund DSM Netherlands cut its stake in shares of Tanger Inc. (NYSE:SKT) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,000 shares of the real estate investment trust’s stock after selling 6,000 shares during the period. Pensionfund DSM Netherlands’ holdings in Tanger were worth $887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SKT. Van ECK Associates Corp increased its holdings in Tanger by 8.5% during the 2nd quarter. Van ECK Associates Corp now owns 16,289 shares of the real estate investment trust’s stock worth $442,000 after acquiring an additional 1,282 shares during the period. Rhumbline Advisers raised its position in shares of Tanger by 3.2% in the second quarter. Rhumbline Advisers now owns 403,008 shares of the real estate investment trust’s stock worth $10,926,000 after buying an additional 12,336 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Tanger by 6.8% in the second quarter. Victory Capital Management Inc. now owns 59,238 shares of the real estate investment trust’s stock worth $1,606,000 after buying an additional 3,775 shares in the last quarter. Arizona State Retirement System boosted its stake in Tanger by 3.0% during the second quarter. Arizona State Retirement System now owns 30,491 shares of the real estate investment trust’s stock valued at $827,000 after buying an additional 897 shares during the period. Finally, Quest Partners LLC purchased a new position in Tanger during the second quarter worth about $834,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total value 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. The trade was a 4.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by insiders.

Tanger Stock Performance

Shares of SKT stock traded down $0.16 during trading hours on Monday, reaching $34.25. 24,363 shares of the company traded hands, compared to its average volume of 284,828. The firm has a 50-day moving average price of $35.26 and a 200 day moving average price of $31.77. The company has a market cap of $3.79 billion, a P/E ratio of 39.83, a P/E/G ratio of 2.78 and a beta of 1.92. Tanger Inc. has a 12-month low of $25.67 and a 12-month high of $37.57. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13.

Tanger (NYSE:SKT) last released its 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). Tanger had a net margin of 18.55% and a return on equity of 16.25%. The firm had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $125.80 million. During the same quarter last year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts predict that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors 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 3.21%. The ex-dividend date was Thursday, October 31st. Tanger’s dividend payout ratio (DPR) is presently 127.91%.

Wall Street Analysts Forecast Growth

SKT has been the topic of several recent analyst reports. Compass Point raised their price target on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research note on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price on the stock. Citigroup boosted their price target on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and increased their target price for the company from $35.00 to $40.00 in a report on Monday, November 11th. Finally, Evercore ISI raised their target price 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.00.

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.