Yousif Capital Management LLC Sells 817 Shares of Tanger Inc. (NYSE:SKT)

Yousif Capital Management LLC reduced its holdings in Tanger Inc. (NYSE:SKTFree Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,190 shares of the real estate investment trust’s stock after selling 817 shares during the quarter. Yousif Capital Management LLC’s holdings in Tanger were worth $1,392,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of Tanger in the 1st quarter worth approximately $30,000. Aster Capital Management DIFC Ltd grew its position in shares of Tanger by 232.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 733 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Tanger in the 4th quarter worth approximately $68,000. Coppell Advisory Solutions LLC grew its position in shares of Tanger by 144.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 1,399 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Tanger by 415.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,790 shares of the real estate investment trust’s stock worth $95,000 after buying an additional 2,249 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $40.00 in a research report on Friday, March 28th. Evercore ISI upgraded Tanger to a “hold” rating in a research note on Friday, May 2nd. Finally, Scotiabank lowered their target price on Tanger from $38.00 to $33.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Get Our Latest Report on SKT

Tanger Trading Down 0.9%

SKT opened at $29.74 on Wednesday. The business has a 50 day moving average of $30.56 and a 200-day moving average of $32.67. The stock has a market cap of $3.37 billion, a PE ratio of 35.40, a PEG ratio of 2.85 and a beta of 1.19. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 2.37.

Tanger (NYSE:SKTGet Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The business had revenue of $129.29 million during the quarter, compared to analysts’ expectations of $128.24 million. Tanger had a return on equity of 15.13% and a net margin of 17.65%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Equities research analysts predict that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.2925 per share. This is a boost from Tanger’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 3.93%. Tanger’s payout ratio is presently 139.29%.

Tanger Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tanger (NYSE:SKT)

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