Albert D Mason Inc. Sells 14,699 Shares of Tanger Inc. (NYSE:SKT)

Albert D Mason Inc. lessened its stake in Tanger Inc. (NYSE:SKT) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,393 shares of the real estate investment trust’s stock after selling 14,699 shares during the quarter. Tanger makes up 1.5% of Albert D Mason Inc.’s holdings, making the stock its 15th biggest position. Albert D Mason Inc.’s holdings in Tanger were worth $2,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SKT. Natixis Advisors LLC raised its stake in Tanger by 55.3% in 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. increased its holdings in shares of Tanger by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock worth $65,210,000 after acquiring an additional 21,793 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Tanger by 13.6% in the 3rd 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 during the period. Fisher Asset Management LLC lifted its holdings in Tanger by 5.2% during the 3rd quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust’s stock valued at $16,691,000 after purchasing an additional 25,014 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Tanger by 42.2% during the second quarter. Thrivent Financial for Lutherans now owns 368,612 shares of the real estate investment trust’s stock worth $9,993,000 after purchasing an additional 109,388 shares during the period. 85.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and increased their price objective for the company from $35.00 to $40.00 in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a report on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target on the stock. Compass Point boosted their price objective on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th. The Goldman Sachs Group increased their target price on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Evercore ISI boosted their price target on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Insider Buying and Selling

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 59,641 shares of the company’s stock, valued at $2,163,179.07. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.80% of the stock is currently owned by company insiders.

Tanger Stock Up 1.0 %

NYSE SKT opened at $33.17 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 2.70 and a beta of 1.92. The company has a 50 day moving average of $35.08 and a 200-day moving average of $32.17. Tanger Inc. has a 1-year low of $25.67 and a 1-year high of $37.57.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.31). The company had revenue of $133.00 million during the quarter, compared to analyst estimates of $125.80 million. Tanger had a net margin of 18.55% and a return on equity of 16.25%. Tanger’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, equities research analysts expect that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

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.