19,977 Shares in Tanger Inc. $SKT Purchased by Diversified Trust Co.

Diversified Trust Co. bought a new stake in shares of Tanger Inc. (NYSE:SKT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,977 shares of the real estate investment trust’s stock, valued at approximately $667,000.

Several other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Tanger by 2.8% during the first quarter. Royal Bank of Canada now owns 145,184 shares of the real estate investment trust’s stock worth $4,905,000 after purchasing an additional 3,995 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Tanger by 17.8% in the first quarter. AQR Capital Management LLC now owns 38,209 shares of the real estate investment trust’s stock valued at $1,291,000 after purchasing an additional 5,765 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tanger by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,251 shares of the real estate investment trust’s stock valued at $2,171,000 after purchasing an additional 3,631 shares in the last quarter. United Services Automobile Association purchased a new stake in Tanger during the 1st quarter worth approximately $233,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Tanger by 436.9% during 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 worth $27,073,000 after buying an additional 651,961 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Stock Down 0.8%

Shares of NYSE SKT opened at $33.71 on Friday. The business has a 50-day moving average of $34.54 and a two-hundred day moving average of $33.84. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 33.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. 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.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, January 30th. Tanger’s dividend payout ratio is 117.00%.

Wall Street Analyst Weigh In

Several brokerages have commented on SKT. Scotiabank raised their price target on shares of Tanger from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Tuesday. Barclays upped their price objective on Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. Compass Point lowered Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a report on Thursday, February 26th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $39.00 price target on shares of Tanger in a research report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tanger currently has an average rating of “Hold” and a consensus price target of $36.71.

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.