Public Sector Pension Investment Board Has $7.70 Million Stock Holdings in Tanger Inc. (NYSE:SKT)

Public Sector Pension Investment Board lessened its position in shares of Tanger Inc. (NYSE:SKT) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,975 shares of the real estate investment trust’s stock after selling 8,600 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Tanger worth $7,697,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Tanger during the third quarter valued at $1,161,000. BNP Paribas Financial Markets lifted its stake in shares of Tanger by 21.2% during the third quarter. BNP Paribas Financial Markets now owns 56,645 shares of the real estate investment trust’s stock valued at $1,879,000 after acquiring an additional 9,891 shares during the period. FMR LLC lifted its stake in shares of Tanger by 32.2% during the third quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock valued at $249,625,000 after acquiring an additional 1,832,261 shares during the period. Truvestments Capital LLC acquired a new position in shares of Tanger during the third quarter valued at $160,000. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Tanger by 3,393.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 1,663 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Transactions at Tanger

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

Tanger Stock Down 0.4 %

Shares of Tanger stock opened at $36.97 on Friday. Tanger Inc. has a 1 year low of $24.72 and a 1 year high of $37.57. The business has a 50-day moving average of $34.46 and a two-hundred day moving average of $30.41. The company has a market capitalization of $4.09 billion, a P/E ratio of 42.99, a price-to-earnings-growth ratio of 2.90 and a beta of 1.88. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.13 and a quick ratio of 0.13.

Tanger (NYSE:SKT) last announced its quarterly 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). The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $125.80 million. Tanger had a return on equity of 16.25% and a net margin of 18.55%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. As a group, equities analysts predict that Tanger Inc. will post 2.11 EPS for the current year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given 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 is currently 127.91%.

Wall Street Analysts Forecast Growth

SKT has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Citigroup upped their price objective on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI upped their price objective on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Scotiabank upped their price objective on Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and upped their price objective for the company from $35.00 to $40.00 in a report on Monday, November 11th. Three 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, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.