Allspring Global Investments Holdings LLC Grows Holdings in Tanger Inc. $SKT

Allspring Global Investments Holdings LLC grew its holdings in Tanger Inc. (NYSE:SKT) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,759 shares of the real estate investment trust’s stock after purchasing an additional 37,163 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of Tanger worth $5,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKT. Invesco Ltd. increased its stake in Tanger by 127.0% in the second quarter. Invesco Ltd. now owns 2,036,716 shares of the real estate investment trust’s stock worth $62,283,000 after purchasing an additional 1,139,288 shares during the period. GRS Advisors LLC increased its stake in Tanger by 98.9% in 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. Schonfeld Strategic Advisors LLC increased its stake in Tanger by 2,190.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock worth $28,181,000 after purchasing an additional 796,411 shares during the period. American Century Companies Inc. increased its stake in Tanger by 1,459.4% in the third 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 period. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in shares of Tanger by 6,186.3% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 721,599 shares of the real estate investment trust’s stock worth $24,419,000 after buying an additional 710,120 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Compass Point downgraded Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a research report on Thursday, February 26th. Bank of America reissued a “neutral” rating and set a $39.00 price target on shares of Tanger in a research report on Friday, March 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a research report on Wednesday, January 21st. Barclays increased their price target on Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Finally, Scotiabank increased their price target on Tanger from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tanger currently has a consensus rating of “Hold” and an average price target of $36.71.

Tanger Price Performance

Shares of SKT stock opened at $35.01 on Tuesday. Tanger Inc. has a 1-year low of $28.69 and a 1-year high of $37.95. The stock’s 50-day moving average is $34.70 and its 200 day moving average is $33.85. The company has a market cap of $4.01 billion, a P/E ratio of 35.01, a PEG ratio of 1.65 and a beta of 1.20. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.40 and a quick ratio of 0.40.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, January 30th. Tanger’s dividend payout ratio (DPR) is currently 117.00%.

About Tanger

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.