Bailard Inc. Acquires 600 Shares of Tanger Inc. (NYSE:SKT)

Bailard Inc. grew its holdings in Tanger Inc. (NYSE:SKT) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 14,900 shares of the real estate investment trust’s stock after buying an additional 600 shares during the period. Bailard Inc.’s holdings in Tanger were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its holdings in Tanger by 33.1% in the 3rd quarter. FMR LLC now owns 4,315,625 shares of the real estate investment trust’s stock worth $97,533,000 after purchasing an additional 1,072,443 shares during the period. Wellington Management Group LLP increased its position in Tanger by 29.9% in the third quarter. Wellington Management Group LLP now owns 3,953,555 shares of the real estate investment trust’s stock worth $89,350,000 after buying an additional 909,622 shares in the last quarter. Invesco Ltd. increased its position in Tanger by 35.9% in the third quarter. Invesco Ltd. now owns 723,109 shares of the real estate investment trust’s stock worth $16,342,000 after buying an additional 190,979 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Tanger by 1,740.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 191,244 shares of the real estate investment trust’s stock worth $5,301,000 after buying an additional 180,853 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its position in shares of Tanger by 98.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 348,514 shares of the real estate investment trust’s stock valued at $9,661,000 after buying an additional 172,527 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SKT. Evercore ISI raised their target price on shares of Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 28th. Bank of America upgraded shares of Tanger from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $24.00 to $31.00 in a research report on Friday, April 5th. Finally, Citigroup raised shares of Tanger from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $33.00 in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

Tanger Trading Up 0.7 %

Tanger stock opened at $28.88 on Friday. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.19 and a quick ratio of 0.19. The firm’s 50 day moving average price is $28.46 and its 200-day moving average price is $26.84. Tanger Inc. has a 1 year low of $18.00 and a 1 year high of $29.98. The stock has a market cap of $3.15 billion, a P/E ratio of 31.39, a PEG ratio of 3.65 and a beta of 1.83.

Tanger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.275 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.10 annualized dividend and a yield of 3.81%. This is a boost from Tanger’s previous quarterly dividend of $0.26. Tanger’s payout ratio is presently 113.04%.

Tanger Company Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.