Tanger Inc. (NYSE:SKT) is O Keefe Stevens Advisory Inc.’s 10th Largest Position

O Keefe Stevens Advisory Inc. lessened its position in shares of Tanger Inc. (NYSE:SKT) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 367,670 shares of the real estate investment trust’s stock after selling 7,836 shares during the quarter. Tanger accounts for 3.7% of O Keefe Stevens Advisory Inc.’s portfolio, making the stock its 10th largest position. O Keefe Stevens Advisory Inc.’s holdings in Tanger were worth $12,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Tanger by 44.6% in the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 393 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Tanger by 1.3% in the first quarter. Maryland State Retirement & Pension System now owns 38,802 shares of the real estate investment trust’s stock valued at $1,146,000 after purchasing an additional 512 shares during the last quarter. EMC Capital Management grew its position in Tanger by 5.1% during the 1st quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 697 shares during the period. American International Group Inc. raised its stake in shares of Tanger by 1.5% during the 1st quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock valued at $1,671,000 after buying an additional 813 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Tanger by 1,412.1% during the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 819 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Scotiabank raised their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Compass Point raised their price objective on shares of Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Evercore ISI boosted 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, September 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

Tanger Stock Performance

NYSE SKT opened at $33.50 on Wednesday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 36.81, a PEG ratio of 3.32 and a beta of 1.89. The stock has a 50-day moving average of $30.37 and a 200 day moving average of $28.57. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.53. Tanger Inc. has a twelve month low of $21.42 and a twelve month high of $33.63.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Wednesday, July 31st. Tanger’s payout ratio is 120.88%.

Tanger 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.