159,151 Shares in Tanger Inc. (NYSE:SKT) Acquired by Nordea Investment Management AB

Nordea Investment Management AB purchased a new stake in Tanger Inc. (NYSE:SKT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 159,151 shares of the real estate investment trust's stock, valued at approximately $4,450,000. Nordea Investment Management AB owned 0.15% of Tanger as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Loomis Sayles & Co. L P grew its stake in shares of Tanger by 4,051.4% in the third quarter. Loomis Sayles & Co. L P now owns 1,453 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 1,418 shares during the last quarter. West Tower Group LLC acquired a new stake in shares of Tanger in the 2nd quarter worth about $40,000. Tower Research Capital LLC TRC increased its stake in Tanger by 151.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,846 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 1,112 shares during the last quarter. Advisory Services Network LLC increased its stake in Tanger by 84.7% in the 1st quarter. Advisory Services Network LLC now owns 3,845 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 1,763 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Tanger in the 1st quarter valued at about $74,000. 84.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SKT has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Tanger from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $27.00 to $29.00 in a report on Monday, December 18th. Evercore ISI increased their target price on Tanger from $28.00 to $29.00 and gave the company an "in-line" rating in a report on Wednesday, February 28th. Finally, Citigroup upgraded Tanger from a "neutral" rating to a "buy" rating and increased their target price for the company from $30.00 to $33.00 in a report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Tanger has a consensus rating of "Hold" and a consensus target price of $27.17.

Tanger Stock Performance

Shares of SKT stock traded down $0.14 on Friday, reaching $28.93. The stock had a trading volume of 651,054 shares, compared to its average volume of 772,388. The stock has a market cap of $3.15 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 4.21 and a beta of 1.83. Tanger Inc. has a 1 year low of $18.00 and a 1 year high of $29.98. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.19 and a current ratio of 0.19. The company has a 50 day simple moving average of $28.04 and a 200 day simple moving average of $25.97.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, January 30th. This represents a $1.04 annualized dividend and a yield of 3.59%. Tanger's dividend payout ratio (DPR) is presently 113.04%.

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.