Tanger Inc. (NYSE:SKT) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its position in shares of Tanger Inc. (NYSE:SKT) by 7.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 145,420 shares of the real estate investment trust’s stock after acquiring an additional 9,850 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Tanger were worth $4,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its holdings in shares of Tanger by 1.9% during 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 acquiring an additional 319 shares during the period. Maryland State Retirement & Pension System raised its stake in Tanger by 0.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust’s stock worth $1,272,000 after purchasing an additional 349 shares during the period. DAVENPORT & Co LLC boosted its holdings in Tanger by 1.4% in the 4th quarter. DAVENPORT & Co LLC now owns 31,462 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 425 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Tanger by 24.9% in the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock valued at $88,000 after buying an additional 514 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Tanger by 12.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 583 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SKT shares. BMO Capital Markets started coverage on Tanger in a research report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Tanger in a research report on Tuesday, December 17th. They set a “hold” rating and a $37.00 price objective for the company. Finally, The Goldman Sachs Group raised shares of Tanger from a “neutral” rating to a “buy” rating and upped their target price for the company from $39.00 to $40.00 in a research report on Friday, March 28th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.63.

Insider Buying and Selling

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the transaction, the chief operating officer now owns 113,158 shares in the company, valued at $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.80% of the stock is currently owned by insiders.

Tanger Stock Performance

NYSE SKT opened at $33.98 on Wednesday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.44 and a quick ratio of 0.13. The company has a market cap of $3.83 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.97 and a beta of 1.88. The stock has a 50-day moving average of $33.65 and a two-hundred day moving average of $34.06. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57.

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

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.24%. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

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.