Hancock Whitney Corp Has $2.51 Million Holdings in Tanger Inc. (NYSE:SKT)

Hancock Whitney Corp decreased its position in shares of Tanger Inc. (NYSE:SKT) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,494 shares of the real estate investment trust’s stock after selling 402 shares during the quarter. Hancock Whitney Corp owned about 0.07% of Tanger worth $2,505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American International Group Inc. lifted its holdings in Tanger by 1.5% in the first quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock valued at $1,671,000 after buying an additional 813 shares during the period. BOKF NA lifted its stake in shares of Tanger by 71.6% in the 1st quarter. BOKF NA now owns 4,884 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 2,038 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Tanger by 2.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,197 shares of the real estate investment trust’s stock valued at $1,808,000 after purchasing an additional 1,752 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Tanger by 1.5% during the first quarter. Public Employees Retirement System of Ohio now owns 155,134 shares of the real estate investment trust’s stock worth $4,581,000 after purchasing an additional 2,284 shares during the period. Finally, EMC Capital Management increased its holdings in Tanger by 5.1% in the first quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 697 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total transaction of $108,810.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is currently owned by corporate insiders.

Tanger Stock Performance

SKT opened at $36.67 on Tuesday. Tanger Inc. has a 1-year low of $24.72 and a 1-year high of $37.01. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 42.64, a PEG ratio of 2.85 and a beta of 1.88. The company’s fifty day moving average price is $33.93 and its two-hundred day moving average price is $30.13. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40.

Tanger (NYSE:SKT) last posted 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 business 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%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. On average, analysts expect that Tanger Inc. will post 2.11 EPS for the current fiscal year.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.00%. Tanger’s payout ratio is 127.91%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SKT shares. Scotiabank increased their price target on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Evercore ISI boosted their target price on shares of Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Citigroup raised their price target on shares of Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Bank of America upgraded shares of Tanger from a “neutral” rating to a “buy” rating and upped their price objective for the company from $35.00 to $40.00 in a report on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.86.

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.