Gallardo Leslie Swanson Sells 12,500 Shares of Tanger Inc. (NYSE:SKT) Stock

Tanger Inc. (NYSE:SKT) COO Gallardo Leslie Swanson sold 12,500 shares of Tanger stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $32.38, for a total transaction of $404,750.00. Following the completion of the sale, the chief operating officer now directly owns 113,158 shares of the company’s stock, valued at approximately $3,664,056.04. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Tanger Trading Down 0.7 %

Shares of NYSE:SKT opened at $32.65 on Thursday. The stock has a 50 day moving average of $33.85 and a 200 day moving average of $33.87. The company has a market cap of $3.68 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. The company has a current ratio of 0.44, a quick ratio of 0.13 and a debt-to-equity ratio of 2.09. Tanger Inc. has a 12-month low of $25.94 and a 12-month high of $37.57.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $132.17 million during the quarter, compared to the consensus estimate 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 expect that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, January 31st. Tanger’s payout ratio is presently 126.44%.

Analyst Ratings Changes

Several brokerages have weighed in on SKT. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 price objective on the stock. Citigroup lifted their price objective on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. BMO Capital Markets began coverage on shares of Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Natixis Advisors LLC raised its stake in shares of Tanger by 55.3% during the 3rd quarter. Natixis Advisors LLC now owns 72,131 shares of the real estate investment trust’s stock worth $2,393,000 after buying an additional 25,683 shares during the period. Rhumbline Advisers grew its holdings in Tanger by 2.6% in the 4th quarter. Rhumbline Advisers now owns 399,556 shares of the real estate investment trust’s stock valued at $13,637,000 after buying an additional 10,283 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in Tanger by 4.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 163,420 shares of the real estate investment trust’s stock valued at $5,560,000 after buying an additional 7,647 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tanger by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock valued at $65,210,000 after buying an additional 21,793 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Tanger during the 4th quarter worth $709,000. 85.23% of the stock is owned by institutional investors and hedge funds.

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.