Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 79.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,515 shares of the real estate investment trust’s stock after purchasing an additional 4,670 shares during the quarter. Van ECK Associates Corp’s holdings in Tanger Factory Outlet Centers were worth $189,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in shares of Tanger Factory Outlet Centers during the 1st quarter valued at $74,000. M&T Bank Corp boosted its stake in shares of Tanger Factory Outlet Centers by 6.0% during the 3rd quarter. M&T Bank Corp now owns 10,623 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 602 shares in the last quarter. 1620 Investment Advisors Inc. boosted its stake in shares of Tanger Factory Outlet Centers by 5.3% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 10,783 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 547 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Tanger Factory Outlet Centers during the 2nd quarter worth $178,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter worth $180,000. 74.61% of the stock is owned by institutional investors.

Tanger Factory Outlet Centers Price Performance

SKT opened at $19.97 on Thursday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 5.16 and a beta of 1.81. Tanger Factory Outlet Centers, Inc. has a 1 year low of $13.26 and a 1 year high of $20.27. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 2.82. The stock has a fifty day moving average price of $18.94 and a 200 day moving average price of $18.77.

Tanger Factory Outlet Centers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were given a dividend of $0.245 per share. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, April 27th. This represents a $0.98 dividend on an annualized basis and a yield of 4.91%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 124.05%.

Wall Street Analyst Weigh In

Several analysts have recently commented on SKT shares. Compass Point cut Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Monday, January 30th. StockNews.com started coverage on Tanger Factory Outlet Centers in a research report on Thursday. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group started coverage on Tanger Factory Outlet Centers in a research report on Tuesday, March 21st. They issued a “buy” rating and a $22.00 target price for the company.

About Tanger Factory Outlet Centers

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Tanger Factory Outlet Centers, Inc engages in the operation of upscale open-air outlet centers. The firm focuses on developing, acquiring, owning, operating, and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.