Asset Management One Co. Ltd. Sells 49,823 Shares of Tanger Inc. (NYSE:SKT)

Asset Management One Co. Ltd. decreased its holdings in Tanger Inc. (NYSE:SKT) by 24.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 155,773 shares of the real estate investment trust’s stock after selling 49,823 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Tanger were worth $5,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of Tanger by 1,412.1% in the second 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 in the last quarter. HHM Wealth Advisors LLC acquired a new stake in Tanger in the 2nd quarter valued at about $27,000. Whittier Trust Co. bought a new position in shares of Tanger in the second quarter worth about $33,000. GAMMA Investing LLC raised 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 last quarter. Finally, CWM LLC lifted its position in shares of Tanger by 418.6% during the second quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 1,398 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Trading Up 0.3 %

NYSE SKT opened at $35.55 on Friday. Tanger Inc. has a 12 month low of $23.82 and a 12 month high of $35.85. The stock has a 50-day simple moving average of $32.89 and a 200 day simple moving average of $29.54. 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 capitalization of $3.89 billion, a PE ratio of 41.34, a P/E/G ratio of 2.87 and a beta of 1.88.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.09%. The ex-dividend date is Thursday, October 31st. Tanger’s payout ratio is presently 127.91%.

Analyst Ratings Changes

Several research firms recently weighed in on SKT. Compass Point boosted their price objective 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. Scotiabank boosted their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI raised their price target on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a report on Thursday. Finally, Bank of America boosted their price objective on Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.67.

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.