Tanger Inc. $SKT Stock Holdings Lessened by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in shares of Tanger Inc. (NYSE:SKT) by 95.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,110 shares of the real estate investment trust’s stock after selling 189,232 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Tanger were worth $310,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SHP Wealth Management acquired a new position in Tanger in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 531 shares during the period. Fifth Third Bancorp boosted its stake in shares of Tanger by 43.2% during the 1st quarter. Fifth Third Bancorp now owns 972 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 293 shares during the period. Advisory Services Network LLC purchased a new position in shares of Tanger during the 3rd quarter valued at $33,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Tanger during the 4th quarter valued at $34,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Stock Up 0.0%

Tanger stock opened at $40.67 on Monday. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 2.67. Tanger Inc. has a 1-year low of $29.24 and a 1-year high of $42.53. The firm’s fifty day simple moving average is $39.39 and its 200-day simple moving average is $36.60. The company has a market capitalization of $4.67 billion, a P/E ratio of 38.01, a P/E/G ratio of 2.08 and a beta of 1.10.

Tanger (NYSE:SKT) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The business had revenue of $150.42 million during the quarter, compared to the consensus estimate of $142.94 million. Tanger had a return on equity of 17.53% and a net margin of 20.76%.The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. Sell-side analysts forecast that Tanger Inc. will post 2.48 earnings per share for the current fiscal year.

Tanger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.3125 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.1%. Tanger’s payout ratio is currently 116.82%.

Analysts Set New Price Targets

SKT has been the subject of several recent research reports. UBS Group set a $41.00 price objective on Tanger in a report on Thursday, June 18th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research note on Friday, July 17th. Bank of America reaffirmed an “underperform” rating and issued a $38.00 target price on shares of Tanger in a research report on Tuesday, June 16th. Evercore set a $39.00 price target on Tanger in a research note on Tuesday, July 7th. Finally, LADENBURG THALM/SH SH lifted their price target on Tanger from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $39.70.

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.