Sightline Wealth Advisors LLC Sells 11,250 Shares of Tanger Inc. (NYSE:SKT)

Sightline Wealth Advisors LLC decreased its position in Tanger Inc. (NYSE:SKT) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,080 shares of the real estate investment trust’s stock after selling 11,250 shares during the period. Tanger accounts for 1.6% of Sightline Wealth Advisors LLC’s portfolio, making the stock its 16th largest position. Sightline Wealth Advisors LLC owned 0.08% of Tanger worth $2,972,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Tanger by 24.9% in the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock valued at $88,000 after buying an additional 514 shares during the last quarter. KBC Group NV increased its stake in shares of Tanger by 31.5% during the third quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 881 shares during the period. Arizona State Retirement System grew its stake in shares of Tanger by 3.0% in the second quarter. Arizona State Retirement System now owns 30,491 shares of the real estate investment trust’s stock valued at $827,000 after acquiring an additional 897 shares in the last quarter. Inspire Investing LLC raised its position in shares of Tanger by 7.7% in the second quarter. Inspire Investing LLC now owns 13,034 shares of the real estate investment trust’s stock valued at $353,000 after buying an additional 931 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Tanger by 35.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,244 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,107 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Transactions at Tanger

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 value of $108,810.00. Following the transaction, the chief accounting officer now directly owns 59,641 shares of the company’s stock, 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 can be accessed through this hyperlink. Company insiders own 5.80% of the company’s stock.

Tanger Stock Up 1.6 %

SKT traded up $0.53 during midday trading on Monday, reaching $33.13. 459,398 shares of the company were exchanged, compared to its average volume of 566,302. Tanger Inc. has a one year low of $25.67 and a one year high of $37.57. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. The company’s fifty day moving average price is $35.20 and its 200 day moving average price is $32.03. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.92.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.31). Tanger had a net margin of 18.55% and a return on equity of 16.25%. The company had revenue of $133.00 million for the quarter, compared to the consensus estimate of $125.80 million. During the same quarter last year, the business posted $0.50 earnings per share. Tanger’s revenue was up 13.3% on a year-over-year basis. As a group, analysts expect that Tanger Inc. will post 2.11 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on SKT shares. Compass Point increased their price target on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Citigroup upped their target price on Tanger from $34.00 to $41.00 and gave the stock a “buy” rating in a report 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 price objective on the stock. Bank of America raised Tanger from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $40.00 in a report on Monday, November 11th. Finally, The Goldman Sachs Group increased their price target on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Tanger presently has an average rating of “Hold” and a consensus target price of $36.00.

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.