State of Alaska Department of Revenue Lowers Position in Tanger Inc. (NYSE:SKT)

State of Alaska Department of Revenue trimmed its position in shares of Tanger Inc. (NYSE:SKT) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 112,883 shares of the real estate investment trust’s stock after selling 2,410 shares during the quarter. State of Alaska Department of Revenue owned about 0.10% of Tanger worth $3,744,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UniSuper Management Pty Ltd lifted its position in shares of Tanger by 84.0% during the first quarter. UniSuper Management Pty Ltd now owns 53,369 shares of the real estate investment trust’s stock valued at $1,576,000 after buying an additional 24,369 shares during the last quarter. Hancock Whitney Corp increased its holdings in shares of Tanger by 46.8% during the first quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust’s stock valued at $2,116,000 after acquiring an additional 22,859 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Tanger by 3.6% during the first quarter. Texas Permanent School Fund Corp now owns 94,243 shares of the real estate investment trust’s stock valued at $2,783,000 after acquiring an additional 3,272 shares in the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Tanger by 146.6% during the first quarter. ClariVest Asset Management LLC now owns 71,741 shares of the real estate investment trust’s stock valued at $2,119,000 after acquiring an additional 42,651 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Tanger by 9.0% during the first quarter. BNP Paribas Financial Markets now owns 72,813 shares of the real estate investment trust’s stock valued at $2,150,000 after acquiring an additional 6,016 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Price Performance

Shares of NYSE:SKT opened at $33.95 on Thursday. Tanger Inc. has a twelve month low of $21.51 and a twelve month high of $34.81. The company’s 50 day moving average is $32.22 and its 200 day moving average is $29.18. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.53. The company has a market cap of $3.71 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 2.86 and a beta of 1.89.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.275 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.10 annualized dividend and a yield of 3.24%. Tanger’s dividend payout ratio (DPR) is presently 122.22%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SKT. Bank of America upped their price objective on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Scotiabank upped their price objective on shares of Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Compass Point upped their price objective on shares of Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Evercore ISI upped their price objective on shares of Tanger from $29.00 to $31.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Tanger Company Profile

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.