11,000 Shares in Tanger Inc. (NYSE:SKT) Acquired by Spirit of America Management Corp NY

Spirit of America Management Corp NY purchased a new position in shares of Tanger Inc. (NYSE:SKTFree Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,000 shares of the real estate investment trust’s stock, valued at approximately $305,000.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Tanger by 2.2% during the 2nd quarter. BlackRock Inc. now owns 18,889,097 shares of the real estate investment trust’s stock worth $416,882,000 after purchasing an additional 399,522 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tanger by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 16,577,247 shares of the real estate investment trust’s stock worth $226,777,000 after purchasing an additional 44,744 shares during the last quarter. State Street Corp raised its holdings in Tanger by 1.3% in the 2nd quarter. State Street Corp now owns 6,538,718 shares of the real estate investment trust’s stock valued at $144,310,000 after acquiring an additional 82,202 shares in the last quarter. FMR LLC raised its holdings in Tanger by 33.1% in the 3rd quarter. FMR LLC now owns 4,315,625 shares of the real estate investment trust’s stock valued at $97,533,000 after acquiring an additional 1,072,443 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Tanger by 29.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,953,555 shares of the real estate investment trust’s stock valued at $89,350,000 after acquiring an additional 909,622 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on SKT. Citigroup raised Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $33.00 in a report on Friday, March 22nd. JPMorgan Chase & Co. raised Tanger from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $27.00 to $29.00 in a report on Monday, December 18th. Finally, Evercore ISI lifted their price objective on Tanger from $28.00 to $29.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Tanger currently has a consensus rating of “Hold” and an average price target of $27.17.

Check Out Our Latest Research Report on SKT

Tanger Trading Down 0.1 %

Shares of SKT opened at $29.53 on Monday. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 4.30 and a beta of 1.83. Tanger Inc. has a 52-week low of $18.00 and a 52-week high of $29.98. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.19 and a current ratio of 0.19. The business’s fifty day moving average is $28.26 and its 200-day moving average is $26.18.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, January 30th. This represents a $1.04 dividend on an annualized basis and a yield of 3.52%. Tanger’s dividend payout ratio is currently 113.04%.

Tanger Company 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.

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Institutional Ownership by Quarter for Tanger (NYSE:SKT)

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