Bokf Na Grows Stock Holdings in Tanger Inc. (NYSE:SKT)

Bokf Na lifted its holdings in Tanger Inc. (NYSE:SKT) by 100.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,810 shares of the real estate investment trust’s stock after acquiring an additional 4,926 shares during the period. Bokf Na’s holdings in Tanger were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. HHM Wealth Advisors LLC purchased a new stake in Tanger during the 2nd quarter worth $27,000. Texas Permanent School Fund Corp boosted its position in shares of Tanger by 11.6% in the second quarter. Texas Permanent School Fund Corp now owns 105,211 shares of the real estate investment trust’s stock worth $2,852,000 after buying an additional 10,968 shares during the period. Choreo LLC acquired a new stake in shares of Tanger in the second quarter valued at about $221,000. Quest Partners LLC purchased a new stake in shares of Tanger during the 2nd quarter valued at about $834,000. Finally, Arizona State Retirement System raised its holdings in shares of Tanger by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 30,491 shares of the real estate investment trust’s stock valued at $827,000 after buying an additional 897 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Compass Point upped their price target on Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI upped their target price on shares of Tanger from $29.00 to $31.00 and gave the company an “in-line” rating in a research note on Monday. Finally, Scotiabank lifted their price target on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.33.

Tanger Stock Down 1.2 %

SKT stock opened at $31.39 on Wednesday. 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 firm has a 50 day simple moving average of $29.00 and a 200-day simple moving average of $28.19. The company has a market capitalization of $3.43 billion, a P/E ratio of 34.49, a PEG ratio of 3.21 and a beta of 1.89. Tanger Inc. has a twelve month low of $21.42 and a twelve month high of $32.05.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.50%. The ex-dividend date was Wednesday, July 31st. Tanger’s dividend payout ratio is currently 120.88%.

About Tanger

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.