Tanger Inc. $SKT Shares Sold by Inlet Private Wealth LLC

Inlet Private Wealth LLC lessened its position in Tanger Inc. (NYSE:SKT) by 45.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,600 shares of the real estate investment trust’s stock after selling 23,000 shares during the period. Inlet Private Wealth LLC’s holdings in Tanger were worth $921,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SKT. Invesco Ltd. lifted its stake in shares of Tanger by 127.0% in the 2nd quarter. Invesco Ltd. now owns 2,036,716 shares of the real estate investment trust’s stock worth $62,283,000 after acquiring an additional 1,139,288 shares during the period. GRS Advisors LLC lifted its stake in shares of Tanger by 98.9% in the 2nd quarter. GRS Advisors LLC now owns 1,889,097 shares of the real estate investment trust’s stock worth $57,769,000 after acquiring an additional 939,424 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in shares of Tanger by 2,190.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 832,777 shares of the real estate investment trust’s stock worth $28,181,000 after acquiring an additional 796,411 shares during the period. American Century Companies Inc. lifted its stake in shares of Tanger by 1,459.4% in the 3rd quarter. American Century Companies Inc. now owns 787,880 shares of the real estate investment trust’s stock worth $26,662,000 after acquiring an additional 737,354 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of Tanger by 6,186.3% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 721,599 shares of the real estate investment trust’s stock worth $24,419,000 after acquiring an additional 710,120 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Up 1.3%

Shares of NYSE SKT opened at $35.01 on Tuesday. 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 firm has a 50-day moving average price of $34.70 and a 200 day moving average price of $33.85. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 1.65 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on SKT. 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 research note on Thursday, February 26th. Barclays raised their target price on shares of Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Bank of America restated a “neutral” rating and issued a $39.00 target price on shares of Tanger in a research note on Friday, March 6th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. Finally, Scotiabank raised their price objective on shares of Tanger from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tanger currently has an average rating of “Hold” and an average price target of $36.71.

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.