SG Americas Securities LLC Decreases Stake in Tanger Inc. (NYSE:SKT)

SG Americas Securities LLC reduced its position in Tanger Inc. (NYSE:SKT - Free Report) by 57.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,911 shares of the real estate investment trust's stock after selling 39,600 shares during the period. SG Americas Securities LLC's holdings in Tanger were worth $801,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SKT. Private Advisor Group LLC increased its position in shares of Tanger by 50.8% in the first quarter. Private Advisor Group LLC now owns 19,060 shares of the real estate investment trust's stock worth $328,000 after acquiring an additional 6,420 shares in the last quarter. Bank of Montreal Can grew its position in Tanger by 3.1% during the first quarter. Bank of Montreal Can now owns 31,712 shares of the real estate investment trust's stock valued at $573,000 after purchasing an additional 968 shares in the last quarter. MetLife Investment Management LLC grew its position in Tanger by 55.7% during the first quarter. MetLife Investment Management LLC now owns 54,483 shares of the real estate investment trust's stock valued at $937,000 after purchasing an additional 19,491 shares in the last quarter. Rhumbline Advisers grew its position in Tanger by 3.2% during the first quarter. Rhumbline Advisers now owns 350,524 shares of the real estate investment trust's stock valued at $6,026,000 after purchasing an additional 10,789 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Tanger by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 89,645 shares of the real estate investment trust's stock valued at $1,541,000 after purchasing an additional 11,053 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Stock Down 4.0 %

SKT stock traded down $1.16 during trading hours on Tuesday, hitting $28.18. The company's stock had a trading volume of 967,159 shares, compared to its average volume of 780,542. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $3.07 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 4.30 and a beta of 1.83. Tanger Inc. has a 12 month low of $18.00 and a 12 month high of $29.98. The stock has a 50 day moving average price of $28.31 and a two-hundred day moving average price of $26.25.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Tuesday, January 30th. Tanger's payout ratio is 113.04%.

Analyst Ratings Changes

SKT has been the topic of a number of research analyst reports. Citigroup raised shares of Tanger from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $30.00 to $33.00 in a research report on Friday, March 22nd. Evercore ISI boosted their price objective on shares of Tanger from $28.00 to $29.00 and gave the company an "in-line" rating in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised shares of Tanger from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $27.00 to $29.00 in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $27.17.

About Tanger

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.