Tanger Inc. $SKT Shares Sold by GRS Advisors LLC

GRS Advisors LLC reduced its holdings in Tanger Inc. (NYSE:SKT) by 37.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,178,942 shares of the real estate investment trust’s stock after selling 710,155 shares during the period. Tanger comprises 3.7% of GRS Advisors LLC’s holdings, making the stock its 13th biggest position. GRS Advisors LLC owned about 1.02% of Tanger worth $39,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Salomon & Ludwin LLC purchased a new position in shares of Tanger during the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Tanger by 127.3% in the second quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 531 shares during the last quarter. City Holding Co. acquired a new stake in Tanger during the third quarter worth about $34,000. Neo Ivy Capital Management grew its holdings 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 during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in Tanger during the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Price Performance

Shares of NYSE SKT opened at $35.15 on Friday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a fifty day moving average of $34.38 and a 200 day moving average of $33.80. The firm has a market cap of $4.02 billion, a PE ratio of 35.15, a PEG ratio of 1.70 and a beta of 1.16. Tanger Inc. has a one year low of $28.69 and a one year high of $37.95.

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 given a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, January 30th. Tanger’s dividend payout ratio (DPR) is 117.00%.

Analyst Ratings Changes

SKT has been the topic of a number of analyst reports. LADENBURG THALM/SH SH raised shares of Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. Citigroup reiterated a “neutral” rating and issued a $35.00 target price (down from $38.00) on shares of Tanger in a research note on Wednesday, November 19th. Scotiabank increased their price target on shares of Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Bank of America restated a “neutral” rating and set a $39.00 price target on shares of Tanger in a research report on Friday, March 6th. Finally, Barclays lifted their price objective on shares of Tanger from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.88.

About Tanger

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.