Metis Global Partners LLC Has $428,000 Stock Holdings in Tanger Inc. (NYSE:SKT)

Metis Global Partners LLC grew its holdings in Tanger Inc. (NYSE:SKT) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,541 shares of the real estate investment trust’s stock after buying an additional 1,280 shares during the quarter. Metis Global Partners LLC’s holdings in Tanger were worth $428,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in shares of Tanger by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 511,051 shares of the real estate investment trust’s stock worth $17,442,000 after purchasing an additional 7,998 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Tanger by 1.9% in the 4th quarter. Mutual of America Capital Management LLC now owns 16,767 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 319 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in shares of Tanger by 1,290.0% in the 4th quarter. Flputnam Investment Management Co. now owns 9,730 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 9,030 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Tanger in the 4th quarter worth about $2,064,000. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Tanger by 8.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 60,453 shares of the real estate investment trust’s stock worth $2,063,000 after purchasing an additional 4,590 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Up 1.8 %

Shares of NYSE:SKT opened at $35.60 on Thursday. Tanger Inc. has a 12 month low of $25.94 and a 12 month high of $37.57. The company’s 50-day moving average price is $33.89 and its two-hundred day moving average price is $33.69. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The firm has a market cap of $4.01 billion, a P/E ratio of 40.92, a P/E/G ratio of 2.97 and a beta of 1.91.

Tanger (NYSE:SKT) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The company had revenue of $132.17 million for the quarter, compared to the consensus estimate of $129.10 million. As a group, research analysts forecast that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.09%. Tanger’s payout ratio is presently 126.44%.

Wall Street Analyst Weigh In

SKT has been the topic of several analyst reports. Citigroup upped their target price on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. BMO Capital Markets initiated coverage on shares of Tanger in a report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 target price on the stock. Evercore ISI upped their target price on shares of Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Finally, Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $40.00 in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Tanger currently has an average rating of “Hold” and an average 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.