Tanger Inc. (NYSE:SKT) Stake Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in shares of Tanger Inc. (NYSE:SKT) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,112 shares of the real estate investment trust’s stock after selling 2,226 shares during the period. Nisa Investment Advisors LLC owned 0.16% of Tanger worth $5,943,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in shares of Tanger by 2.0% in the 1st quarter. State of Alaska Department of Revenue now owns 115,090 shares of the real estate investment trust’s stock worth $3,397,000 after acquiring an additional 2,237 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in Tanger by 1.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 38,802 shares of the real estate investment trust’s stock worth $1,146,000 after buying an additional 512 shares during the period. BNP Paribas Financial Markets lifted its stake in 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 buying an additional 6,016 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Tanger in the first quarter worth about $91,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Tanger by 9.3% in the first quarter. Daiwa Securities Group Inc. now owns 34,895 shares of the real estate investment trust’s stock worth $1,030,000 after acquiring an additional 2,981 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Tanger Price Performance

NYSE:SKT opened at $33.25 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50-day moving average of $32.32 and a 200-day moving average of $29.21. Tanger Inc. has a 52 week low of $21.51 and a 52 week high of $34.81. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 2.86 and a beta of 1.89.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.31%. Tanger’s dividend payout ratio is presently 122.22%.

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.