AlphaQuest LLC Decreases Position in Tanger Inc. $SKT

AlphaQuest LLC cut its position in Tanger Inc. (NYSE:SKT) by 97.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 871 shares of the real estate investment trust’s stock after selling 40,982 shares during the period. AlphaQuest LLC’s holdings in Tanger were worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in Tanger by 1.4% during the third quarter. Arizona State Retirement System now owns 33,489 shares of the real estate investment trust’s stock worth $1,133,000 after buying an additional 452 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in shares of Tanger by 0.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 127,012 shares of the real estate investment trust’s stock worth $4,298,000 after purchasing an additional 782 shares during the period. Federated Hermes Inc. raised its position in Tanger by 2.9% in the third quarter. Federated Hermes Inc. now owns 213,569 shares of the real estate investment trust’s stock valued at $7,227,000 after purchasing an additional 5,942 shares during the period. Truist Financial Corp lifted its stake in Tanger by 736.7% during the third quarter. Truist Financial Corp now owns 61,533 shares of the real estate investment trust’s stock worth $2,082,000 after purchasing an additional 54,179 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its position in shares of Tanger by 10.3% during the third quarter. Resona Asset Management Co. Ltd. now owns 49,977 shares of the real estate investment trust’s stock worth $1,666,000 after buying an additional 4,664 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SKT. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a report on Wednesday, January 21st. LADENBURG THALM/SH SH upgraded shares of Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. Scotiabank raised their price objective on shares of Tanger from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Citigroup restated a “neutral” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Tanger in a report on Wednesday, November 19th. Finally, Barclays reaffirmed a “positive” rating and set a $36.00 target price on shares of Tanger in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Tanger Stock Performance

Shares of Tanger stock opened at $33.86 on Monday. The business has a 50-day simple moving average of $33.47 and a 200-day simple moving average of $33.28. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.51 and a current ratio of 0.51. Tanger Inc. has a one year low of $28.69 and a one year high of $36.76. The company has a market cap of $3.90 billion, a PE ratio of 36.02, a P/E/G ratio of 1.49 and a beta of 1.18.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a $0.2925 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.5%. Tanger’s dividend payout ratio is currently 124.47%.

Tanger Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.