Nissay Asset Management Corp Japan ADV Has $554,000 Holdings in Tanger Inc. (NYSE:SKT)

Nissay Asset Management Corp Japan ADV grew its holdings in Tanger Inc. (NYSE:SKT) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,279 shares of the real estate investment trust’s stock after purchasing an additional 624 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Tanger were worth $554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC increased its holdings in Tanger by 174.7% during the third quarter. Barclays PLC now owns 240,281 shares of the real estate investment trust’s stock worth $7,973,000 after buying an additional 152,796 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Tanger by 36.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 17,045 shares of the real estate investment trust’s stock worth $582,000 after buying an additional 4,549 shares during the last quarter. HB Wealth Management LLC increased its holdings in Tanger by 19.9% during the fourth quarter. HB Wealth Management LLC now owns 8,425 shares of the real estate investment trust’s stock worth $288,000 after buying an additional 1,399 shares during the last quarter. ARS Investment Partners LLC acquired a new position in Tanger during the fourth quarter worth $555,000. Finally, Exchange Traded Concepts LLC increased its holdings in Tanger by 12.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock worth $175,000 after buying an additional 583 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Gallardo Leslie Swanson sold 12,500 shares of the company’s stock in a transaction dated 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 owns 113,158 shares of the company’s stock, valued at $3,664,056.04. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.70% of the stock is currently owned by company insiders.

Tanger Trading Up 2.1%

Shares of Tanger stock opened at $31.22 on Monday. The firm has a 50-day moving average of $31.64 and a 200-day moving average of $33.57. The stock has a market cap of $3.53 billion, a PE ratio of 35.89, a PEG ratio of 2.97 and a beta of 1.18. Tanger Inc. has a 52-week low of $25.94 and a 52-week high of $37.57. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.13 and a current ratio of 0.44.

Tanger (NYSE:SKT) last announced its earnings results 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 company had revenue of $129.29 million during the quarter, compared to analysts’ expectations of $128.24 million. Tanger had a net margin of 18.65% and a return on equity of 16.16%. Tanger’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, sell-side analysts forecast that Tanger Inc. will post 2.24 EPS for the current year.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date was Wednesday, April 30th. This is a boost from Tanger’s previous quarterly dividend of $0.28. Tanger’s payout ratio is presently 139.29%.

Analysts Set New Price Targets

SKT has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on shares of Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price on the stock. Evercore ISI raised shares of Tanger to a “hold” rating in a research report on Friday, May 2nd. Scotiabank reduced their price objective on shares of Tanger from $38.00 to $33.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group raised shares of 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. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Tanger currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Tanger Company 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.