Jefferies Financial Group Inc. Lowers Position in Tanger Inc. $SKT

Jefferies Financial Group Inc. reduced its position in shares of Tanger Inc. (NYSE:SKT) by 74.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 114,621 shares of the real estate investment trust’s stock after selling 333,122 shares during the period. Jefferies Financial Group Inc.’s holdings in Tanger were worth $3,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management raised its stake in shares of Tanger by 595.6% during the 3rd quarter. Neo Ivy Capital Management now owns 9,126 shares of the real estate investment trust’s stock worth $309,000 after buying an additional 7,814 shares in the last quarter. Barclays PLC grew its holdings in Tanger by 41.1% during the third quarter. Barclays PLC now owns 507,745 shares of the real estate investment trust’s stock worth $17,182,000 after acquiring an additional 147,848 shares during the period. Crossmark Global Holdings Inc. raised its position in Tanger by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 408,648 shares of the real estate investment trust’s stock worth $13,829,000 after acquiring an additional 6,641 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Tanger by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,621,980 shares of the real estate investment trust’s stock worth $54,886,000 after acquiring an additional 4,959 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Tanger by 131.6% in the third quarter. Elo Mutual Pension Insurance Co now owns 35,714 shares of the real estate investment trust’s stock valued at $1,209,000 after acquiring an additional 20,292 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SKT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. Citigroup reissued a “neutral” rating and set a $35.00 price objective (down from $38.00) on shares of Tanger in a report on Wednesday, November 19th. Compass Point cut shares of 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. Bank of America reiterated a “neutral” rating and set a $39.00 price target on shares of Tanger in a research report on Friday, March 6th. Finally, Scotiabank boosted their price target on Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. One equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.88.

Tanger Trading Down 0.1%

NYSE:SKT opened at $35.87 on Wednesday. The company has a market capitalization of $4.11 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. 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 52-week low of $28.69 and a 52-week high of $37.95. The stock has a fifty day simple moving average of $34.26 and a 200-day simple moving average of $33.77.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $0.2925 per share. The ex-dividend date was Friday, January 30th. This represents a $1.17 dividend on an annualized basis and a yield of 3.3%. Tanger’s payout ratio is presently 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.