Asset Management One Co. Ltd. Increases Stake in Tanger Inc. (NYSE:SKT)

Asset Management One Co. Ltd. grew its position in Tanger Inc. (NYSE:SKT) by 33.5% during the 4th quarter, HoldingsChannel reports. The fund owned 214,944 shares of the real estate investment trust’s stock after purchasing an additional 53,985 shares during the period. Asset Management One Co. Ltd.’s holdings in Tanger were worth $6,040,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of Tanger by 4.3% in the third quarter. Van ECK Associates Corp now owns 11,968 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 496 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Tanger by 7.6% in the second quarter. Ameritas Investment Partners Inc. now owns 8,444 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 597 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Tanger by 6.0% in the third quarter. M&T Bank Corp now owns 10,623 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 602 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Tanger by 5.5% in the third quarter. Gotham Asset Management LLC now owns 11,768 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 609 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Tanger by 1.9% in the second quarter. Commonwealth Equity Services LLC now owns 34,682 shares of the real estate investment trust’s stock worth $765,000 after purchasing an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Down 0.5 %

Shares of Tanger stock opened at $27.87 on Wednesday. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.19 and a quick ratio of 0.19. Tanger Inc. has a 1 year low of $18.00 and a 1 year high of $29.98. The firm’s 50-day moving average is $28.31 and its two-hundred day moving average is $26.42. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 4.03 and a beta of 1.83.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Tuesday, January 30th. Tanger’s payout ratio is 113.04%.

Analyst Ratings Changes

SKT has been the topic of a number of research analyst reports. Evercore ISI upped their price target on shares of Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upgraded shares of Tanger from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $27.00 to $29.00 in a report on Monday, December 18th. Bank of America upgraded shares of Tanger from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $24.00 to $31.00 in a report on Friday, April 5th. Finally, Citigroup upgraded shares of Tanger from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $33.00 in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

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.