State of Alaska Department of Revenue Reduces Holdings in Tanger Inc. (NYSE:SKT)

State of Alaska Department of Revenue decreased its holdings in shares of Tanger Inc. (NYSE:SKTFree Report) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 112,853 shares of the real estate investment trust’s stock after selling 1,141 shares during the period. State of Alaska Department of Revenue owned approximately 0.11% of Tanger worth $3,127,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SKT. Private Advisor Group LLC grew its stake in shares of Tanger by 50.8% during the first quarter. Private Advisor Group LLC now owns 19,060 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 6,420 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Tanger by 3.1% during the first quarter. Bank of Montreal Can now owns 31,712 shares of the real estate investment trust’s stock worth $573,000 after purchasing an additional 968 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Tanger by 55.7% during the first quarter. MetLife Investment Management LLC now owns 54,483 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 19,491 shares during the period. Rhumbline Advisers lifted its holdings in shares of Tanger by 3.2% during the first quarter. Rhumbline Advisers now owns 350,524 shares of the real estate investment trust’s stock worth $6,026,000 after purchasing an additional 10,789 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Tanger by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 89,645 shares of the real estate investment trust’s stock worth $1,541,000 after purchasing an additional 11,053 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Down 0.4 %

Shares of NYSE:SKT opened at $28.06 on Thursday. The stock’s fifty day simple moving average is $28.31 and its 200-day simple moving average is $26.26. Tanger Inc. has a 52-week low of $18.00 and a 52-week high of $29.98. The company has a market capitalization of $3.06 billion, a P/E ratio of 30.49, a P/E/G ratio of 4.27 and a beta of 1.83. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 2.43.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.71%. Tanger’s dividend payout ratio (DPR) is currently 113.04%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SKT shares. Citigroup upgraded Tanger from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $33.00 in a research report on Friday, March 22nd. Evercore ISI increased their target price on Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised Tanger from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $27.00 to $29.00 in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.17.

Read Our Latest Report on SKT

Tanger Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Inc. (NYSE:SKTFree Report).

Institutional Ownership by Quarter for Tanger (NYSE:SKT)

Receive News & Ratings for Tanger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger and related companies with MarketBeat.com's FREE daily email newsletter.