Intech Investment Management LLC Has $2.12 Million Position in Tanger Inc. $SKT

Intech Investment Management LLC cut its holdings in Tanger Inc. (NYSE:SKT) by 20.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,693 shares of the real estate investment trust’s stock after selling 15,963 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Tanger worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Salomon & Ludwin LLC bought a new stake in Tanger in the third quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 531 shares in the last quarter. City Holding Co. acquired a new position in shares of Tanger during the 3rd quarter valued at $34,000. Neo Ivy Capital Management boosted its stake in Tanger by 346.3% during the second quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in Tanger in the second quarter worth $47,000. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Up 0.3%

SKT stock opened at $37.46 on Thursday. The firm has a market capitalization of $4.29 billion, a PE ratio of 37.46, a P/E/G ratio of 1.64 and a beta of 1.16. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.17. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $37.95. The stock’s 50 day moving average is $34.09 and its 200-day moving average is $33.67.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.2925 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.17 annualized dividend and a dividend yield of 3.1%. Tanger’s dividend payout ratio is presently 117.00%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SKT shares. Citigroup reissued a “neutral” rating and set a $35.00 price objective (down from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. Compass Point cut Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Thursday, February 26th. Barclays upped their target price on Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Tanger in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.57.

Tanger 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.