Daiwa Securities Group Inc. Raises Holdings in Tanger Inc. (NYSE:SKT)

Daiwa Securities Group Inc. boosted its holdings in shares of Tanger Inc. (NYSE:SKT) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,423 shares of the real estate investment trust’s stock after buying an additional 2,165 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Tanger were worth $1,209,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Natixis Advisors LLC increased its holdings in Tanger by 55.3% during the third quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock valued at $2,393,000 after buying an additional 25,683 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Tanger by 1.1% in the third 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 acquiring an additional 21,793 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Tanger by 13.6% in the third 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 acquiring an additional 38,036 shares in the last quarter. Bailard Inc. boosted its stake in Tanger by 64.4% in the second quarter. Bailard Inc. now owns 24,500 shares of the real estate investment trust’s stock valued at $664,000 after acquiring an additional 9,600 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Tanger by 42.2% in the second quarter. Thrivent Financial for Lutherans now owns 368,612 shares of the real estate investment trust’s stock valued at $9,993,000 after acquiring an additional 109,388 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction 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 transaction, the chief accounting officer now owns 59,641 shares of the company’s stock, valued at approximately $2,163,179.07. The trade was a 4.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.80% of the stock is currently owned by corporate insiders.

Tanger Trading Down 0.4 %

Shares of Tanger stock opened at $36.97 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a fifty day moving average price of $34.46 and a 200 day moving average price of $30.41. Tanger Inc. has a 1 year low of $24.72 and a 1 year high of $37.57. The stock has a market cap of $4.09 billion, a PE ratio of 42.99, a price-to-earnings-growth ratio of 2.90 and a beta of 1.88.

Tanger (NYSE:SKT) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.31). Tanger had a return on equity of 16.25% and a net margin of 18.55%. The business had revenue of $133.00 million for the quarter, compared to analysts’ expectations of $125.80 million. During the same period last year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts predict that Tanger Inc. will post 2.11 earnings per share for the current year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.10 annualized dividend and a dividend yield of 2.98%. Tanger’s dividend payout ratio (DPR) is presently 127.91%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Scotiabank raised their target price on shares of Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Citigroup raised their target price 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. Bank of America upgraded shares of Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $40.00 in a research note on Monday, November 11th. Finally, Compass Point lifted their price objective on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Tanger currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.86.

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.