American Century Companies Inc. Grows Stock Holdings in Tanger Inc. $SKT

American Century Companies Inc. boosted its stake in shares of Tanger Inc. (NYSE:SKT) by 1,459.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 787,880 shares of the real estate investment trust’s stock after buying an additional 737,354 shares during the period. American Century Companies Inc. owned approximately 0.70% of Tanger worth $26,662,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. M&T Bank Corp increased its position in shares of Tanger by 3.3% during the second quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust’s stock valued at $314,000 after acquiring an additional 326 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Tanger by 11.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,185 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 330 shares in the last quarter. M&G PLC boosted its stake in Tanger by 5.6% during the 3rd quarter. M&G PLC now owns 6,435 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 340 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Tanger by 1.1% in the 3rd quarter. Amalgamated Bank now owns 32,386 shares of the real estate investment trust’s stock worth $1,096,000 after purchasing an additional 342 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Tanger by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 101,225 shares of the real estate investment trust’s stock worth $3,095,000 after purchasing an additional 391 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Stock Performance

SKT stock opened at $36.04 on Monday. The company has a market cap of $4.13 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. Tanger Inc. has a 1 year low of $28.69 and a 1 year high of $37.95. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s fifty day moving average price is $34.18 and its 200-day moving average price is $33.73.

Tanger Dividend Announcement

The company also recently declared 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. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, January 30th. Tanger’s payout ratio is currently 117.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a report on Thursday, November 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a report on Wednesday, January 21st. Scotiabank upped their target price 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. Compass Point downgraded shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a report on Thursday, February 26th. Finally, Barclays lifted their price target on shares of Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.88.

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.