Albert D Mason Inc. Has $2.27 Million Stake in Tanger Inc. (NYSE:SKT)

Albert D Mason Inc. lowered its stake in Tanger Inc. (NYSE:SKT) by 18.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,393 shares of the real estate investment trust’s stock after selling 14,699 shares during the period. Tanger accounts for 1.5% of Albert D Mason Inc.’s portfolio, making the stock its 15th largest position. Albert D Mason Inc. owned 0.06% of Tanger worth $2,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Choreo LLC acquired a new stake in Tanger in the second quarter worth about $221,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Tanger by 5.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 25,340 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 1,359 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Tanger by 15.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 346,182 shares of the real estate investment trust’s stock valued at $9,385,000 after acquiring an additional 45,534 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Tanger by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,628,331 shares of the real estate investment trust’s stock worth $44,144,000 after acquiring an additional 123,107 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Tanger by 20.4% during the second quarter. Renaissance Technologies LLC now owns 575,226 shares of the real estate investment trust’s stock worth $15,594,000 after purchasing an additional 97,400 shares during the period. Institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SKT. Evercore ISI raised their target price on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Citigroup lifted their price objective on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research note on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and boosted their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.00.

Tanger Stock Up 1.0 %

Tanger stock opened at $33.17 on Friday. The company has a 50 day moving average of $35.08 and a 200-day moving average of $32.17. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.40. Tanger Inc. has a twelve month low of $25.67 and a twelve month high of $37.57. The stock has a market capitalization of $3.67 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 2.70 and a beta of 1.92.

Tanger (NYSE:SKT) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.31). The company had revenue of $133.00 million during the quarter, compared to analyst estimates of $125.80 million. Tanger had a return on equity of 16.25% and a net margin of 18.55%. Tanger’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that Tanger Inc. will post 2.11 EPS for the current fiscal year.

Insider Buying and Selling at Tanger

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total value of $108,810.00. Following the sale, the chief accounting officer now directly owns 59,641 shares in the company, valued at approximately $2,163,179.07. The trade was a 4.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.80% of the company’s stock.

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.