Tanger Inc. (NYSE:SKT) Stock Holdings Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in Tanger Inc. (NYSE:SKT) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,987 shares of the real estate investment trust’s stock after purchasing an additional 3,194 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Tanger were worth $1,386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKT. FMR LLC raised its holdings in shares of Tanger by 16,418.2% in the 1st quarter. FMR LLC now owns 2,249,283 shares of the real estate investment trust’s stock worth $44,153,000 after purchasing an additional 2,235,666 shares in the last quarter. Norges Bank purchased a new position in shares of Tanger in the fourth quarter worth approximately $16,663,000. Wellington Management Group LLP increased its position in shares of Tanger by 29.9% in the third quarter. Wellington Management Group LLP now owns 3,953,555 shares of the real estate investment trust’s stock worth $89,350,000 after acquiring an additional 909,622 shares in the last quarter. State Street Corp increased its position in shares of Tanger by 12.6% in the first quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock worth $107,480,000 after acquiring an additional 700,755 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Tanger by 40.1% in the first quarter. JPMorgan Chase & Co. now owns 2,329,080 shares of the real estate investment trust’s stock worth $45,720,000 after acquiring an additional 667,077 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Performance

SKT stock opened at $26.67 on Monday. 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 $2.91 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 3.37 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 firm has a 50 day moving average of $28.35 and a two-hundred day moving average of $26.67.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.12%. This is a boost 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 presently 113.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SKT shares. Citigroup raised shares of Tanger from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $33.00 in a research report on Friday, March 22nd. Evercore ISI lifted their target price on shares of Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Finally, Bank of America raised shares of Tanger from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $24.00 to $31.00 in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.00.

Tanger 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.