Asset Management One Co. Ltd. Has $5.56 Million Stock Position in Tanger Inc. (NYSE:SKT)

Asset Management One Co. Ltd. increased its position in Tanger Inc. (NYSE:SKT) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,420 shares of the real estate investment trust’s stock after purchasing an additional 7,647 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Tanger were worth $5,560,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Tanger by 32.2% in the third quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust’s stock worth $249,625,000 after purchasing an additional 1,832,261 shares during the period. Charles Schwab Investment Management Inc. increased its position in Tanger by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,965,350 shares of the real estate investment trust’s stock worth $65,210,000 after purchasing an additional 21,793 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tanger by 387.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 775,411 shares of the real estate investment trust’s stock worth $25,728,000 after purchasing an additional 616,417 shares during the period. Fisher Asset Management LLC increased its position in Tanger by 5.2% in the third quarter. Fisher Asset Management LLC now owns 503,053 shares of the real estate investment trust’s stock worth $16,691,000 after purchasing an additional 25,014 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Tanger by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 444,901 shares of the real estate investment trust’s stock worth $14,762,000 after purchasing an additional 9,701 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SKT has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on Tanger in a report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price on the stock. Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and raised their target price for the stock from $35.00 to $40.00 in a report on Monday, November 11th. Compass Point raised their target price on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Evercore ISI raised their target price on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their target price on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.00.

Tanger Trading Up 1.2 %

NYSE SKT opened at $34.67 on Wednesday. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.82 and a beta of 1.91. The stock’s 50 day moving average price is $33.79 and its two-hundred day moving average price is $33.09. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, January 31st. Tanger’s payout ratio is 127.91%.

About Tanger

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.