SG Americas Securities LLC Buys 118,113 Shares of Tanger Inc. $SKT

Key Points

• SG Americas Securities LLC increased its stake in Tanger by 328.2% in Q4, buying 118,113 shares to hold 154,104 shares worth about $5.14 million.
• Tanger paid a quarterly dividend of $0.2925 per share (annualized $1.17) for a 3.4% yield, but the payout ratio is an elevated 117%, which may signal limited sustainability.
• Institutional investors own roughly 85.23% of the stock, including JPMorgan Chase’s 984,836-share position (about $33.3 million) after a 26.6% increase in Q3.

SG Americas Securities LLC raised its stake in shares of Tanger Inc. (NYSE:SKT - Free Report) by 328.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 154,104 shares of the real estate investment trust's stock after buying an additional 118,113 shares during the period. SG Americas Securities LLC owned about 0.13% of Tanger worth $5,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Diversified Trust Co. purchased a new stake in Tanger during the fourth quarter valued at $667,000. Marshall Financial Group LLC boosted its position in Tanger by 4.9% in the fourth quarter. Marshall Financial Group LLC now owns 27,778 shares of the real estate investment trust's stock worth $927,000 after purchasing an additional 1,292 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Tanger by 0.8% during the 4th quarter. Oliver Luxxe Assets LLC now owns 55,590 shares of the real estate investment trust's stock valued at $1,855,000 after purchasing an additional 428 shares during the period. GAMMA Investing LLC grew its stake in shares of Tanger by 13.2% during the 4th quarter. GAMMA Investing LLC now owns 2,856 shares of the real estate investment trust's stock valued at $95,000 after purchasing an additional 332 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Tanger by 26.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 984,836 shares of the real estate investment trust's stock valued at $33,327,000 after purchasing an additional 207,199 shares during the last quarter. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Trading Up 0.4%

Shares of NYSE:SKT opened at $34.13 on Thursday. The stock has a 50 day moving average of $34.58 and a 200 day moving average of $33.83. The company has a market cap of $3.91 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.20. Tanger Inc. has a 12-month low of $28.69 and a 12-month high of $37.95. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.17.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a dividend of $0.2925 per share. The ex-dividend date was Friday, January 30th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.4%. Tanger's payout ratio is 117.00%.

Wall Street Analysts Forecast Growth

SKT has been the topic of a number of research reports. Barclays raised their price objective on shares of Tanger from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Monday, March 2nd. Compass Point downgraded shares of Tanger from a "buy" rating to a "neutral" rating and set a $38.00 price target on the stock. in a research report on Thursday, February 26th. Scotiabank lifted their price target on shares of Tanger from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Tanger in a research report on Wednesday, January 21st. Finally, Bank of America restated a "neutral" rating and issued a $39.00 price objective on shares of Tanger in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.71.

Tanger Profile

Tanger Factory Outlet Centers, Inc NYSE: SKT is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company's portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger's centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.

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