Tanger Inc. (NYSE:SKT) Shares Purchased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC boosted its stake in Tanger Inc. (NYSE:SKT) by 98.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,514 shares of the real estate investment trust’s stock after buying an additional 172,527 shares during the quarter. Tanger makes up approximately 0.6% of Knights of Columbus Asset Advisors LLC’s portfolio, making the stock its 26th largest holding. Knights of Columbus Asset Advisors LLC owned approximately 0.33% of Tanger worth $9,661,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. raised its position in shares of Tanger by 2,457.1% in the fourth quarter. Federated Hermes Inc. now owns 141,485 shares of the real estate investment trust’s stock valued at $3,922,000 after buying an additional 135,952 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tanger by 4.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 124,290 shares of the real estate investment trust’s stock valued at $3,445,000 after acquiring an additional 5,536 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Tanger in the 4th quarter worth approximately $1,461,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Tanger by 1,740.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 191,244 shares of the real estate investment trust’s stock worth $5,301,000 after purchasing an additional 180,853 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Tanger during the 4th quarter worth approximately $346,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Tanger Trading Up 0.6 %

SKT traded up $0.17 on Friday, hitting $26.99. The company had a trading volume of 200,212 shares, compared to its average volume of 758,957. 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 firm has a market cap of $2.95 billion, a P/E ratio of 29.32, a PEG ratio of 3.35 and a beta of 1.83. The company’s fifty day moving average price is $28.36 and its 200 day moving average price is $26.57. Tanger Inc. has a 1 year low of $18.00 and a 1 year high of $29.98.

Tanger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.275 per share. The ex-dividend date is Monday, April 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Tanger’s previous quarterly dividend of $0.26. Tanger’s dividend payout ratio (DPR) is presently 119.57%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America upgraded Tanger from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $24.00 to $31.00 in a research report on Friday, April 5th. Citigroup raised Tanger from a “neutral” rating to a “buy” rating and raised their target price for the stock from $30.00 to $33.00 in a research note on Friday, March 22nd. Finally, Evercore ISI boosted their price target 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.