Beck Bode LLC Has $1.90 Million Stock Holdings in Tanger Inc. (NYSE:SKT)

Beck Bode LLC lessened its stake in shares of Tanger Inc. (NYSE:SKT) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,746 shares of the real estate investment trust’s stock after selling 7,529 shares during the quarter. Beck Bode LLC owned about 0.05% of Tanger worth $1,903,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SKT. Aster Capital Management DIFC Ltd grew its stake in Tanger by 232.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 733 shares during the period. Coppell Advisory Solutions LLC raised its holdings in Tanger by 144.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 1,399 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Tanger by 24.9% in the fourth 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 in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Tanger by 415.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 2,249 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Tanger by 16.2% during the fourth quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 401 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Trading Down 0.3 %

Shares of Tanger stock opened at $29.85 on Friday. The firm has a market cap of $3.38 billion, a PE ratio of 34.31, a P/E/G ratio of 2.97 and a beta of 1.49. Tanger Inc. has a 1 year low of $25.94 and a 1 year high of $37.57. 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 stock has a fifty day moving average price of $32.47 and a 200-day moving average price of $33.82.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $129.29 million during the quarter, compared to the consensus estimate of $128.24 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. Equities research analysts anticipate that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 3.92%. This is a positive change from Tanger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, April 30th. Tanger’s dividend payout ratio is 139.29%.

Insiders Place Their Bets

In other news, COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total value 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. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Scotiabank dropped their price target on shares of Tanger from $38.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. BMO Capital Markets began coverage on Tanger in a research report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target for the company. Finally, The Goldman Sachs Group raised shares of Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $40.00 in a report on Friday, March 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Tanger Company 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.