Tudor Investment Corp ET AL Increases Stake in Tanger Inc. $SKT

Key Points

• Tudor Investment Corp ET AL increased its stake in Tanger by 319.8%, acquiring an additional 72,171 shares to own 94,736 shares worth about $3.21 million (≈0.08% of the company) as of the most recent 13F filing.
• Tanger announced a quarterly dividend of $0.2925 per share (annualized $1.17), implying a 3.2% yield, though the payout ratio is an elevated 117%.
• The company has a market cap of $4.18 billion and a PE of 36.47, and Wall Street consensus is a "Hold" with a $36.71 price target (1 Strong Buy, 1 Buy, 6 Hold among analysts).

Tudor Investment Corp ET AL increased its position in Tanger Inc. (NYSE:SKT - Free Report) by 319.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 94,736 shares of the real estate investment trust's stock after acquiring an additional 72,171 shares during the quarter. Tudor Investment Corp ET AL owned about 0.08% of Tanger worth $3,206,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in Tanger by 5.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,877 shares of the real estate investment trust's stock worth $199,000 after acquiring an additional 306 shares during the last quarter. M&T Bank Corp increased its holdings in Tanger by 3.3% in the 2nd quarter. M&T Bank Corp now owns 10,272 shares of the real estate investment trust's stock worth $314,000 after acquiring an additional 326 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Tanger by 11.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,185 shares of the real estate investment trust's stock worth $106,000 after acquiring an additional 330 shares during the last quarter. M&G PLC increased its holdings in Tanger by 5.6% in the 3rd quarter. M&G PLC now owns 6,435 shares of the real estate investment trust's stock worth $219,000 after acquiring an additional 340 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Tanger by 1.1% in the 3rd quarter. Amalgamated Bank now owns 32,386 shares of the real estate investment trust's stock worth $1,096,000 after acquiring an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company's stock.

Tanger Stock Up 0.5%

SKT stock opened at $36.47 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $4.18 billion, a PE ratio of 36.47, a PEG ratio of 1.74 and a beta of 1.20. Tanger Inc. has a twelve month low of $28.69 and a twelve month high of $37.95. The stock has a 50-day simple moving average of $34.96 and a two-hundred day simple moving average of $33.91.

Tanger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, January 30th. Tanger's payout ratio is presently 117.00%.

Wall Street Analyst Weigh In

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

About Tanger

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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