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

Legato Capital Management LLC lifted its holdings in shares of Tanger Inc. (NYSE:SKT) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,544 shares of the real estate investment trust’s stock after buying an additional 3,748 shares during the quarter. Legato Capital Management LLC’s holdings in Tanger were worth $1,725,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SKT. DAVENPORT & Co LLC increased its position in shares of Tanger by 1.4% during the fourth quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust’s stock worth $1,074,000 after purchasing an additional 425 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Tanger by 24.9% during the fourth quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 514 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Tanger by 12.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 583 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Tanger by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the real estate investment trust’s stock worth $1,826,000 after purchasing an additional 600 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Tanger by 21.6% during the fourth quarter. KBC Group NV now owns 4,474 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 795 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total transaction of $108,810.00. Following the transaction, the chief accounting officer now owns 59,641 shares of the company’s stock, valued at approximately $2,163,179.07. This represents a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is owned by corporate insiders.

Tanger Stock Performance

Shares of Tanger stock opened at $33.23 on Wednesday. The business’s fifty day simple moving average is $33.97 and its 200-day simple moving average is $32.94. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. 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 firm has a market cap of $3.68 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 2.82 and a beta of 1.91.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, January 31st. Tanger’s payout ratio is 127.91%.

Analysts Set New Price Targets

Several brokerages have issued reports on SKT. The Goldman Sachs Group upped 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. Citigroup upped their target price on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. BMO Capital Markets began coverage on Tanger in a report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 target price for the company. Compass Point upped their target price on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Tanger has a consensus rating of “Hold” and a consensus target price of $36.00.

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.