Dana Investment Advisors Inc. Has $2.17 Million Holdings in Tanger Inc. (NYSE:SKT)

Dana Investment Advisors Inc. reduced its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,578 shares of the real estate investment trust's stock after selling 7,477 shares during the quarter. Dana Investment Advisors Inc. owned 0.06% of Tanger worth $2,170,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. FMR LLC grew its position in shares of Tanger by 32.2% in the 3rd quarter. FMR LLC now owns 7,523,354 shares of the real estate investment trust's stock valued at $249,625,000 after purchasing an additional 1,832,261 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tanger by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,997,100 shares of the real estate investment trust's stock valued at $68,161,000 after buying an additional 31,750 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tanger by 387.7% during 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 acquiring an additional 616,417 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Tanger by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 601,266 shares of the real estate investment trust's stock worth $20,521,000 after acquiring an additional 30,618 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Tanger by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 511,051 shares of the real estate investment trust's stock worth $17,442,000 after acquiring an additional 7,998 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

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Tanger Stock Up 0.6 %

Shares of NYSE SKT traded up $0.20 during trading hours on Tuesday, hitting $32.88. The company had a trading volume of 1,304,736 shares, compared to its average volume of 759,901. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09. The firm's 50 day moving average is $33.87 and its 200-day moving average is $33.84. The stock has a market capitalization of $3.71 billion, a P/E ratio of 37.79, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88.

Tanger (NYSE:SKT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The firm had revenue of $132.17 million during the quarter, compared to analysts' expectations of $129.10 million. On average, analysts expect that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.35%. Tanger's dividend payout ratio is currently 126.44%.

Analysts Set New Price Targets

A number of research firms have issued reports on SKT. Citigroup increased their target price on Tanger from $34.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. BMO Capital Markets began coverage on Tanger in a research report on Tuesday, January 28th. They issued 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 boosted their target price for the company from $35.00 to $40.00 in a research note on Monday, November 11th. The Goldman Sachs Group raised their price target on shares of Tanger from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Tanger in a research report on Tuesday, December 17th. They issued a "hold" rating and a $37.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.00.

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.