Knights of Columbus Asset Advisors LLC Has $7.56 Million Stake in Tanger Inc. (NYSE:SKT)

Knights of Columbus Asset Advisors LLC decreased its holdings in shares of Tanger Inc. (NYSE:SKT) by 6.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 221,575 shares of the real estate investment trust’s stock after selling 15,569 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Tanger were worth $7,562,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in Tanger by 3.3% during the fourth quarter. American Century Companies Inc. now owns 36,967 shares of the real estate investment trust’s stock worth $1,262,000 after purchasing an additional 1,193 shares during the last quarter. Quantbot Technologies LP lifted its stake in Tanger by 50.3% in the fourth quarter. Quantbot Technologies LP now owns 98,090 shares of the real estate investment trust’s stock valued at $3,348,000 after acquiring an additional 32,824 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Tanger by 38.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,061 shares of the real estate investment trust’s stock valued at $1,982,000 after acquiring an additional 16,203 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Tanger by 98.9% in the fourth quarter. Teacher Retirement System of Texas now owns 62,696 shares of the real estate investment trust’s stock valued at $2,140,000 after acquiring an additional 31,175 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its stake in Tanger by 0.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 37,277 shares of the real estate investment trust’s stock valued at $1,272,000 after acquiring an additional 349 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Tanger in a research note on Tuesday, December 17th. They issued a “hold” rating and a $37.00 price target for the company. BMO Capital Markets assumed coverage on shares of Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.00.

Insiders Place Their Bets

In other Tanger news, COO Gallardo Leslie Swanson sold 12,500 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total value of $404,750.00. Following the sale, the chief operating officer now owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.80% of the company’s stock.

Tanger Price Performance

Tanger stock opened at $31.87 on Friday. The stock’s fifty day moving average price is $33.65 and its two-hundred day moving average price is $33.92. Tanger Inc. has a one year low of $25.94 and a one 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 firm has a market cap of $3.59 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88.

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

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.275 per share. The ex-dividend date was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.45%. Tanger’s dividend payout ratio (DPR) is presently 126.44%.

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.