Tanger Inc. (NYSE:SKT) Shares Purchased by Stevens Capital Management LP

Stevens Capital Management LP boosted its stake in Tanger Inc. (NYSE:SKT) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,383 shares of the real estate investment trust’s stock after acquiring an additional 6,471 shares during the period. Stevens Capital Management LP’s holdings in Tanger were worth $870,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in shares of Tanger by 4.3% during the third quarter. Van ECK Associates Corp now owns 11,968 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 496 shares during the period. Bailard Inc. raised its holdings in shares of Tanger by 4.2% during the fourth quarter. Bailard Inc. now owns 14,900 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 600 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Tanger by 0.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 175,987 shares of the real estate investment trust’s stock worth $3,977,000 after purchasing an additional 922 shares during the period. EMC Capital Management raised its holdings in shares of Tanger by 9.3% during the third quarter. EMC Capital Management now owns 13,577 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 1,159 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Tanger by 3.7% during the third quarter. Daiwa Securities Group Inc. now owns 33,525 shares of the real estate investment trust’s stock worth $758,000 after purchasing an additional 1,211 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SKT. Bank of America raised shares of Tanger from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $24.00 to $31.00 in a report on Friday, April 5th. Evercore ISI increased their price objective on shares of Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Finally, Citigroup upgraded shares of Tanger from a “neutral” rating to a “buy” rating and increased their target price for the company from $30.00 to $33.00 in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.00.

Tanger Stock Up 0.1 %

SKT stock traded up $0.02 during trading hours on Thursday, hitting $28.67. The company’s stock had a trading volume of 819,346 shares, compared to its average volume of 770,646. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $3.13 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 3.60 and a beta of 1.83. Tanger Inc. has a 12 month low of $18.00 and a 12 month high of $29.98. The stock has a 50 day moving average price of $28.44 and a two-hundred day moving average price of $26.76.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.84%. This is an increase from Tanger’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, April 29th. Tanger’s payout ratio is currently 113.04%.

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.