Jefferies Financial Group Inc. Reduces Stock Holdings in Tanger Inc. $SKT

Jefferies Financial Group Inc. lowered its stake in shares of Tanger Inc. (NYSE:SKT) by 74.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,621 shares of the real estate investment trust’s stock after selling 333,122 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.10% of Tanger worth $3,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Salomon & Ludwin LLC purchased a new position in shares of Tanger in the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its position in Tanger by 127.3% in the second 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 during the last quarter. City Holding Co. acquired a new position in Tanger in the third quarter valued at $34,000. Neo Ivy Capital Management boosted its stake in Tanger by 346.3% in the second quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Tanger during the second quarter worth about $47,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SKT shares. Bank of America reissued a “neutral” rating and issued a $39.00 target price on shares of Tanger in a report on Friday, March 6th. Barclays lifted 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. 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. Citigroup reiterated a “neutral” rating and issued a $35.00 price target (down from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. Finally, Scotiabank lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Tanger presently has a consensus rating of “Hold” and an average price target of $36.88.

Tanger Trading Down 0.1%

Shares of SKT stock opened at $35.87 on Wednesday. The company has a market capitalization of $4.11 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.17. The business’s 50 day moving average is $34.26 and its two-hundred day moving average is $33.77. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $37.95.

Tanger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, January 30th. Tanger’s dividend payout ratio (DPR) is 117.00%.

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.