SG Americas Securities LLC Increases Holdings in Tanger Inc. $SKT

SG Americas Securities LLC lifted its holdings in Tanger Inc. (NYSE:SKT) by 328.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 154,104 shares of the real estate investment trust’s stock after buying an additional 118,113 shares during the quarter. SG Americas Securities LLC’s holdings in Tanger were worth $5,142,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SKT. Diversified Trust Co. bought a new stake in Tanger during the 4th quarter valued at approximately $667,000. Marshall Financial Group LLC boosted its stake in Tanger by 4.9% in the 4th quarter. Marshall Financial Group LLC now owns 27,778 shares of the real estate investment trust’s stock worth $927,000 after purchasing an additional 1,292 shares during the period. Oliver Luxxe Assets LLC grew its holdings in Tanger by 0.8% during the 4th quarter. Oliver Luxxe Assets LLC now owns 55,590 shares of the real estate investment trust’s stock valued at $1,855,000 after buying an additional 428 shares in the last quarter. GAMMA Investing LLC grew its holdings in Tanger by 13.2% during the 4th quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 332 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Tanger by 26.6% during the third quarter. JPMorgan Chase & Co. now owns 984,836 shares of the real estate investment trust’s stock valued at $33,327,000 after buying an additional 207,199 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Trading Up 0.4%

SKT stock opened at $34.13 on Thursday. The firm has a fifty day moving average price of $34.58 and a 200 day moving average price of $33.83. Tanger Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $37.95. The firm has a market cap of $3.91 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.20. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.40 and a current ratio of 0.40.

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, January 30th. Tanger’s dividend payout ratio (DPR) is presently 117.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SKT. Barclays upped their target price on shares of Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Scotiabank boosted their price target on shares of Tanger from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a report on Thursday, February 26th. Bank of America restated a “neutral” rating and set a $39.00 price objective on shares of Tanger in a research report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.71.

About Tanger

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.