Teacher Retirement System of Texas Has $2.14 Million Position in Tanger Inc. (NYSE:SKT)

Teacher Retirement System of Texas boosted its position in shares of Tanger Inc. (NYSE:SKT) by 98.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,696 shares of the real estate investment trust’s stock after buying an additional 31,175 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.06% of Tanger worth $2,140,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SKT. FMR LLC boosted its holdings in Tanger by 32.2% in 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Tanger by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,997,100 shares of the real estate investment trust’s stock valued at $68,161,000 after purchasing an additional 31,750 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tanger by 387.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust’s stock worth $25,728,000 after buying an additional 616,417 shares during the period. Principal Financial Group Inc. raised its stake in shares of Tanger by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 601,266 shares of the real estate investment trust’s stock worth $20,521,000 after buying an additional 30,618 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Tanger by 33.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 557,168 shares of the real estate investment trust’s stock valued at $19,016,000 after buying an additional 138,456 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Up 0.2 %

Shares of SKT stock opened at $32.92 on Thursday. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The firm has a fifty day moving average of $33.64 and a 200-day moving average of $34.00. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 37.83, a P/E/G ratio of 2.97 and a beta of 1.88.

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

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Friday, January 31st. Tanger’s dividend payout ratio is presently 126.44%.

Insider Buying and Selling

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the transaction, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SKT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research report on Tuesday, December 17th. They set a “hold” rating and a $37.00 target price for the company. BMO Capital Markets started coverage on Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

About Tanger

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.