Intech Investment Management LLC Sells 15,963 Shares of Tanger Inc. $SKT

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

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new position in Tanger in the third quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 531 shares during the period. City Holding Co. purchased a new position in shares of Tanger in the 3rd quarter worth about $34,000. Neo Ivy Capital Management grew its position 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 valued at $40,000 after buying an additional 1,018 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in Tanger during the second quarter worth about $47,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. Barclays raised 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. Scotiabank upped their price objective on Tanger from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a report on Thursday, November 20th. Finally, Citigroup reissued a “neutral” rating and issued a $35.00 target price (down from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Tanger currently has an average rating of “Moderate Buy” and a consensus price target of $36.57.

Tanger Stock Up 0.3%

SKT opened at $37.46 on Thursday. The company has a 50 day moving average of $34.09 and a 200 day moving average of $33.67. The company has a market cap of $4.29 billion, a PE ratio of 37.46, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. Tanger Inc. has a 12 month low of $28.69 and a 12 month high of $37.95. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.17.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given 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 payout ratio is 117.00%.

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.