Vanderbilt University Makes New $490,000 Investment in Tanger Inc. (NYSE:SKT)

Vanderbilt University purchased a new stake in Tanger Inc. (NYSE:SKT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,761 shares of the real estate investment trust's stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SKT. Blue Trust Inc. grew its holdings in Tanger by 1,412.1% during the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 819 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Tanger during the 2nd quarter worth $27,000. Whittier Trust Co. acquired a new stake in Tanger during the 2nd quarter worth $33,000. GAMMA Investing LLC grew its holdings in Tanger by 44.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 393 shares during the period. Finally, CWM LLC grew its holdings in Tanger by 418.6% during the 2nd quarter. CWM LLC now owns 1,732 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 1,398 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Compass Point lifted their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Friday. Bank of America lifted their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, October 11th. Scotiabank boosted their price target on shares of Tanger from $28.00 to $30.00 and gave the company a "sector perform" rating in a report on Monday, August 26th. Finally, Evercore ISI boosted their price target on shares of Tanger from $29.00 to $31.00 and gave the company an "in-line" rating in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.33.

Tanger Trading Up 0.3 %

Shares of SKT stock traded up $0.10 on Monday, hitting $33.79. The stock had a trading volume of 247,715 shares, compared to its average volume of 731,084. Tanger Inc. has a twelve month low of $21.42 and a twelve month high of $34.81. The firm has a market cap of $3.69 billion, a P/E ratio of 37.52, a PEG ratio of 2.86 and a beta of 1.89. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.53. The company has a fifty day moving average price of $32.01 and a two-hundred day moving average price of $29.08.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.275 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.10 annualized dividend and a yield of 3.26%. Tanger's dividend payout ratio is currently 122.22%.

Tanger Company 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.