Tanger Inc. $SKT Shares Bought by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC increased its holdings in Tanger Inc. (NYSE:SKT) by 80.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,000 shares of the real estate investment trust’s stock after purchasing an additional 230,000 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Tanger were worth $17,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SKT. Brevan Howard Capital Management LP acquired a new position in Tanger in the third quarter worth approximately $320,000. Creative Planning lifted its position in shares of Tanger by 18.0% during the 3rd quarter. Creative Planning now owns 13,030 shares of the real estate investment trust’s stock valued at $441,000 after acquiring an additional 1,985 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Tanger by 2,190.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock valued at $28,181,000 after acquiring an additional 796,411 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Tanger during the 3rd quarter worth $1,509,000. Finally, Raymond James Financial Inc. boosted its stake in shares of Tanger by 6.2% during the 3rd quarter. Raymond James Financial Inc. now owns 162,130 shares of the real estate investment trust’s stock worth $5,486,000 after acquiring an additional 9,443 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Price Performance

SKT opened at $35.15 on Monday. The firm has a market capitalization of $4.02 billion, a P/E ratio of 35.15, a PEG ratio of 1.68 and a beta of 1.15. The stock has a fifty day moving average of $34.38 and a 200-day moving average of $33.80. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.17. Tanger Inc. has a 12-month low of $28.69 and a 12-month high of $37.95.

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, January 30th. Tanger’s dividend payout ratio is currently 117.00%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SKT shares. Scotiabank boosted their target price on Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Citigroup reiterated a “neutral” rating and issued a $35.00 price target (down from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. Barclays lifted their price target on Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Bank of America restated a “neutral” rating and set a $39.00 price objective on shares of Tanger in a report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Tanger has an average rating of “Hold” and a consensus price target of $36.88.

Tanger Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.