Entropy Technologies LP lifted its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 181.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,966 shares of the real estate investment trust's stock after acquiring an additional 11,580 shares during the period. Entropy Technologies LP's holdings in Tanger were worth $613,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of SKT. GAMMA Investing LLC raised its holdings in Tanger by 62.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,064 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 790 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Tanger in the 3rd quarter valued at about $151,000. Creative Planning raised its holdings in Tanger by 14.5% in the 3rd quarter. Creative Planning now owns 9,637 shares of the real estate investment trust's stock valued at $320,000 after buying an additional 1,219 shares during the period. Blue Trust Inc. grew its position in Tanger by 504.1% in the 3rd quarter. Blue Trust Inc. now owns 5,298 shares of the real estate investment trust's stock valued at $176,000 after acquiring an additional 4,421 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Tanger by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 317,549 shares of the real estate investment trust's stock valued at $10,536,000 after acquiring an additional 38,036 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Tanger in a report on Tuesday, January 28th. They issued a "market perform" rating and a $36.00 price target for the company. Compass Point boosted their price objective on Tanger from $34.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, October 25th. The Goldman Sachs Group boosted their price objective on Tanger from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Evercore ISI boosted their price objective on Tanger from $31.00 to $33.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Finally, Citigroup boosted their price objective on Tanger from $34.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Tanger has a consensus rating of "Hold" and a consensus target price of $36.00.
View Our Latest Research Report on Tanger
Insider Activity
In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the transaction, the chief accounting officer now owns 59,641 shares in the company, valued at $2,163,179.07. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.80% of the company's stock.
Tanger Price Performance
Tanger stock traded down $0.28 during midday trading on Friday, reaching $34.23. The company's stock had a trading volume of 748,581 shares, compared to its average volume of 669,294. Tanger Inc. has a fifty-two week low of $25.94 and a fifty-two week high of $37.57. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. The stock's 50 day simple moving average is $33.83 and its 200 day simple moving average is $33.02. The firm has a market capitalization of $3.79 billion, a PE ratio of 39.80, a P/E/G ratio of 2.82 and a beta of 1.91.
Tanger Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, January 31st. Tanger's dividend payout ratio is currently 127.91%.
About Tanger
(
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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