Entropy Technologies LP Acquires 11,580 Shares of Tanger Inc. (NYSE:SKT)

Entropy Technologies LP grew its holdings in Tanger Inc. (NYSE:SKT) by 181.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,966 shares of the real estate investment trust’s stock after acquiring an additional 11,580 shares during the period. Entropy Technologies LP’s holdings in Tanger were worth $613,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC grew its position in Tanger by 55.3% in the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock worth $2,393,000 after acquiring an additional 25,683 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Tanger by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock valued at $65,210,000 after purchasing an additional 21,793 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Tanger by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,549 shares of the real estate investment trust’s stock valued at $10,536,000 after purchasing an additional 38,036 shares during the last quarter. Fisher Asset Management LLC boosted its holdings 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 purchasing an additional 25,014 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Tanger by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 514 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tanger

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.80% of the stock is currently owned by corporate insiders.

Tanger Stock Performance

Shares of NYSE:SKT opened at $33.23 on Wednesday. The firm’s 50 day simple moving average is $33.97 and its 200-day simple moving average is $32.94. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. Tanger Inc. has a one year low of $25.94 and a one year high of $37.57. 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 disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, January 31st. This represents a $1.10 annualized dividend and a yield of 3.31%. Tanger’s payout ratio is currently 127.91%.

Analyst Ratings Changes

SKT has been the subject of a number of analyst reports. Citigroup raised their price target on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI lifted their price target on shares of Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Compass Point upped their price target on shares of 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 price objective for the company. Finally, Bank of America raised Tanger from a “neutral” rating to a “buy” rating and upped their target price for the company from $35.00 to $40.00 in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.