LSV Asset Management Sells 998,214 Shares of Tanger Inc. (NYSE:SKT)

LSV Asset Management lessened its holdings in Tanger Inc. (NYSE:SKT - Free Report) by 41.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,389,794 shares of the real estate investment trust's stock after selling 998,214 shares during the quarter. LSV Asset Management owned 1.32% of Tanger worth $38,525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SKT. Van ECK Associates Corp boosted its position in Tanger by 4.3% in the third quarter. Van ECK Associates Corp now owns 11,968 shares of the real estate investment trust's stock valued at $270,000 after buying an additional 496 shares in the last quarter. M&T Bank Corp grew its position in Tanger by 6.1% during the 4th quarter. M&T Bank Corp now owns 10,019 shares of the real estate investment trust's stock worth $278,000 after acquiring an additional 573 shares during the last quarter. Bailard Inc. increased its holdings in Tanger by 4.2% in the 4th quarter. Bailard Inc. now owns 14,900 shares of the real estate investment trust's stock worth $413,000 after purchasing an additional 600 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its position in Tanger by 0.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 175,987 shares of the real estate investment trust's stock valued at $3,977,000 after purchasing an additional 922 shares during the last quarter. Finally, EMC Capital Management raised its position in Tanger by 9.3% in the third quarter. EMC Capital Management now owns 13,577 shares of the real estate investment trust's stock valued at $307,000 after purchasing an additional 1,159 shares during the last quarter. Institutional investors own 85.23% of the company's stock.

Tanger Trading Down 0.1 %

NYSE SKT traded down $0.03 during mid-day trading on Monday, reaching $27.43. 699,891 shares of the stock were exchanged, compared to its average volume of 780,795. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market cap of $3.00 billion, a P/E ratio of 30.14, a P/E/G ratio of 3.47 and a beta of 1.85. The stock has a 50 day simple moving average of $28.34 and a 200-day simple moving average of $27.05. Tanger Inc. has a one year low of $18.69 and a one year high of $29.98.

Tanger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.10 annualized dividend and a yield of 4.01%. This is a boost from Tanger's previous quarterly dividend of $0.26. Tanger's dividend payout ratio (DPR) is currently 120.88%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SKT. Bank of America raised 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 note on Friday, April 5th. Citigroup raised shares of Tanger from a "neutral" rating to a "buy" rating and raised their price target for the company from $30.00 to $33.00 in a research note on Friday, March 22nd. Evercore ISI reduced their price objective on shares of Tanger from $29.00 to $28.00 and set an "in-line" rating on the stock in a research note on Wednesday, May 1st. Finally, Compass Point raised Tanger from a "neutral" rating to a "buy" rating and raised their target price for the stock from $31.00 to $32.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.83.

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.