Elo Mutual Pension Insurance Co Has $1.21 Million Stock Holdings in Tanger Inc. $SKT

Elo Mutual Pension Insurance Co increased its stake in shares of Tanger Inc. (NYSE:SKT) by 131.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,714 shares of the real estate investment trust’s stock after buying an additional 20,292 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Tanger were worth $1,209,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its position in Tanger by 127.0% during the second quarter. Invesco Ltd. now owns 2,036,716 shares of the real estate investment trust’s stock worth $62,283,000 after acquiring an additional 1,139,288 shares during the last quarter. GRS Advisors LLC increased its stake in shares of Tanger by 98.9% during the second quarter. GRS Advisors LLC now owns 1,889,097 shares of the real estate investment trust’s stock worth $57,769,000 after purchasing an additional 939,424 shares during the period. American Century Companies Inc. lifted its holdings in Tanger by 1,459.4% during the 3rd quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock worth $26,662,000 after purchasing an additional 737,354 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Tanger by 436.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,200 shares of the real estate investment trust’s stock valued at $27,073,000 after purchasing an additional 651,961 shares during the period. Finally, Greenland Capital Management LP acquired a new position in Tanger in the 2nd quarter valued at $8,785,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Price Performance

Shares of NYSE:SKT opened at $36.74 on Friday. The firm has a 50 day moving average of $34.14 and a 200-day moving average of $33.69. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $37.95. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $4.21 billion, a PE ratio of 36.74, a PEG ratio of 1.63 and a beta of 1.16.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a dividend of $0.2925 per share. The ex-dividend date was Friday, January 30th. This represents a $1.17 annualized dividend and a yield of 3.2%. Tanger’s dividend payout ratio is presently 117.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SKT. Scotiabank lifted their target price on Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Citigroup reiterated a “neutral” rating and issued a $35.00 price objective (down from $38.00) on shares of Tanger in a research note on Wednesday, November 19th. Compass Point lowered shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research report on Thursday, February 26th. Barclays raised their target price on shares of Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, LADENBURG THALM/SH SH upgraded Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.57.

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.