Tanger Inc. $SKT Stake Lifted by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of Tanger Inc. (NYSE:SKT) by 6,186.3% during the third quarter, Holdings Channel.com reports. The fund owned 721,599 shares of the real estate investment trust’s stock after purchasing an additional 710,120 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Tanger were worth $24,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKT. Salomon & Ludwin LLC acquired a new stake in Tanger in the third quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in shares of Tanger by 127.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 531 shares during the period. City Holding Co. bought a new stake in shares of Tanger in the 3rd quarter worth $34,000. Neo Ivy Capital Management lifted its holdings in shares of Tanger by 346.3% in the second quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 1,018 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Tanger in the second quarter valued at $47,000. Institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SKT shares. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Wednesday, January 21st. Compass Point lowered shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a report on Thursday, February 26th. LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. Scotiabank upped their price objective on shares of Tanger from $33.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Finally, Barclays increased their target price on shares of Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.88.

Tanger Stock Down 1.0%

SKT opened at $35.50 on Thursday. The company has a market capitalization of $4.06 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.16. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.40 and a quick ratio of 0.40. Tanger Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $37.95. The business has a 50-day moving average of $34.30 and a 200-day moving average of $33.78.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.2925 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.17 dividend on an annualized basis and a yield of 3.3%. Tanger’s payout ratio is 117.00%.

Tanger Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.