Asset Management One Co. Ltd. Increases Position in Tanger Inc. (NYSE:SKT)

Asset Management One Co. Ltd. lifted its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 33.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,944 shares of the real estate investment trust's stock after acquiring an additional 53,985 shares during the period. Asset Management One Co. Ltd. owned 0.20% of Tanger worth $6,040,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Tanger by 2.2% during the second quarter. BlackRock Inc. now owns 18,889,097 shares of the real estate investment trust's stock valued at $416,882,000 after buying an additional 399,522 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tanger by 0.3% during the third quarter. Vanguard Group Inc. now owns 16,577,247 shares of the real estate investment trust's stock valued at $226,777,000 after buying an additional 44,744 shares during the last quarter. State Street Corp boosted its stake in Tanger by 1.3% during the second quarter. State Street Corp now owns 6,538,718 shares of the real estate investment trust's stock valued at $144,310,000 after buying an additional 82,202 shares during the last quarter. FMR LLC boosted its stake in Tanger by 33.1% during the third quarter. FMR LLC now owns 4,315,625 shares of the real estate investment trust's stock valued at $97,533,000 after buying an additional 1,072,443 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Tanger by 29.9% during the third quarter. Wellington Management Group LLP now owns 3,953,555 shares of the real estate investment trust's stock valued at $89,350,000 after buying an additional 909,622 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Tanger Trading Down 2.9 %

Shares of NYSE SKT traded down $0.80 during midday trading on Wednesday, hitting $27.07. The company's stock had a trading volume of 912,594 shares, compared to its average volume of 781,168. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 2.43. The business's 50 day moving average is $28.31 and its two-hundred day moving average is $26.43. Tanger Inc. has a 12-month low of $18.00 and a 12-month high of $29.98. The firm has a market cap of $2.96 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 3.54 and a beta of 1.83.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.04 annualized dividend and a dividend yield of 3.84%. Tanger's payout ratio is 113.04%.

Analyst Ratings Changes

A number of brokerages have issued reports on SKT. Citigroup upgraded Tanger from a "neutral" rating to a "buy" rating and upped their price objective for the company from $30.00 to $33.00 in a research report on Friday, March 22nd. JPMorgan Chase & Co. upgraded Tanger from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $27.00 to $29.00 in a research report on Monday, December 18th. Evercore ISI upped their price objective on Tanger from $28.00 to $29.00 and gave the company an "in-line" rating in a research report on Wednesday, February 28th. Finally, Bank of America upgraded Tanger from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $24.00 to $31.00 in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $29.00.

Tanger 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.