Values First Advisors Inc. Acquires 883 Shares of Tanger Inc. (NYSE:SKT)

Values First Advisors Inc. lifted its holdings in shares of Tanger Inc. (NYSE:SKT) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 42,596 shares of the real estate investment trust’s stock after purchasing an additional 883 shares during the quarter. Values First Advisors Inc.’s holdings in Tanger were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P lifted its position in shares of Tanger by 3,393.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,663 shares during the last quarter. GAMMA Investing LLC raised its stake in Tanger by 62.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,064 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 790 shares during the period. KBC Group NV lifted its holdings in Tanger by 31.5% during the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 881 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Tanger by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,107 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Tanger in the third quarter worth about $151,000. Institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In other 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 directly owns 59,641 shares in the company, valued at approximately $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 can be accessed through this link. Corporate insiders own 5.80% of the company’s stock.

Tanger Stock Performance

Shares of SKT opened at $33.23 on Wednesday. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. 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 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. The stock has a 50-day moving average price of $33.97 and a 200-day moving average price of $32.94.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given 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 presently 127.91%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SKT. Citigroup upped their price target on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI increased their target price on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target for the company. Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $40.00 in a research note on Monday, November 11th. Finally, Compass Point raised their target price on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.