Xponance Inc. Purchases 514 Shares of Tanger Inc. (NYSE:SKT)

Xponance Inc. boosted its stake in Tanger Inc. (NYSE:SKT) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,156 shares of the real estate investment trust’s stock after purchasing an additional 514 shares during the quarter. Xponance Inc.’s holdings in Tanger were worth $276,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. NBC Securities Inc. purchased a new stake in Tanger in the 1st quarter worth $30,000. Aster Capital Management DIFC Ltd raised its position in shares of Tanger by 232.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,048 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 733 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Tanger during the 4th quarter valued at about $68,000. Coppell Advisory Solutions LLC raised its position in shares of Tanger by 144.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 2,368 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 1,399 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Tanger by 16.2% during the 4th quarter. FIL Ltd now owns 2,874 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Tanger in a research report on Friday. They set a “buy” rating and a $35.00 target price on the stock. Barclays assumed coverage on shares of Tanger in a research report on Wednesday, July 2nd. They set an “equal weight” rating and a $33.00 target price on the stock. The Goldman Sachs Group upgraded shares of Tanger from a “neutral” rating to a “buy” rating and upped their target price for the company from $39.00 to $40.00 in a research report on Friday, March 28th. Evercore ISI raised shares of Tanger to a “hold” rating in a research report on Friday, May 2nd. Finally, Scotiabank reduced their price objective on shares of Tanger from $38.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Tanger currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Tanger Price Performance

NYSE SKT opened at $31.53 on Friday. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.14 and a current ratio of 0.14. The firm’s 50 day moving average price is $30.53 and its 200-day moving average price is $32.03. Tanger Inc. has a 52-week low of $26.62 and a 52-week high of $37.57. The company has a market cap of $3.57 billion, a PE ratio of 37.54, a P/E/G ratio of 2.08 and a beta of 1.17.

Tanger (NYSE:SKT) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. The company had revenue of $129.29 million during the quarter, compared to analysts’ expectations of $128.24 million. Tanger had a net margin of 17.65% and a return on equity of 15.13%. Tanger’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. Sell-side analysts forecast that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 3.71%. Tanger’s dividend payout ratio is presently 139.29%.

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.