Tanger Inc. (NYSE:SKT) Shares Sold by Values First Advisors Inc.

Values First Advisors Inc. reduced its holdings in Tanger Inc. (NYSE:SKT) by 18.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,138 shares of the real estate investment trust’s stock after selling 9,161 shares during the quarter. Values First Advisors Inc.’s holdings in Tanger were worth $1,113,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SKT. FMR LLC increased its position in shares of Tanger by 16,418.2% during the 1st quarter. FMR LLC now owns 2,249,283 shares of the real estate investment trust’s stock valued at $44,153,000 after purchasing an additional 2,235,666 shares during the period. Land & Buildings Investment Management LLC acquired a new position in shares of Tanger during the 2nd quarter valued at $25,620,000. Norges Bank acquired a new position in shares of Tanger during the 4th quarter valued at $16,663,000. Wellington Management Group LLP increased its position in shares of Tanger by 29.9% during the 3rd 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 purchasing an additional 909,622 shares during the period. Finally, State Street Corp increased its position in shares of Tanger by 12.6% during the 1st quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock valued at $107,480,000 after purchasing an additional 700,755 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Stock Performance

Shares of Tanger stock traded down $0.02 during trading on Friday, reaching $29.53. The company’s stock had a trading volume of 854,707 shares, compared to its average volume of 752,915. 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 business’s fifty day moving average price is $28.21 and its 200-day moving average price is $26.09. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 4.31 and a beta of 1.83. Tanger Inc. has a one year low of $18.00 and a one year high of $29.98.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.04 annualized dividend and a yield of 3.52%. Tanger’s dividend payout ratio is 113.04%.

Wall Street Analyst Weigh In

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

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.