Aew Capital Management L P Sells 8,772 Shares of Tanger Inc. (NYSE:SKT)

Aew Capital Management L P lessened its stake in Tanger Inc. (NYSE:SKT) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 750,566 shares of the real estate investment trust’s stock after selling 8,772 shares during the period. Aew Capital Management L P’s holdings in Tanger were worth $20,806,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SKT. FMR LLC grew its position in Tanger by 33.1% in the 3rd quarter. FMR LLC now owns 4,315,625 shares of the real estate investment trust’s stock worth $97,533,000 after purchasing an additional 1,072,443 shares during the period. Wellington Management Group LLP grew 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 acquiring an additional 909,622 shares during the period. Invesco Ltd. grew its position in shares of Tanger by 35.9% during the 3rd quarter. Invesco Ltd. now owns 723,109 shares of the real estate investment trust’s stock valued at $16,342,000 after acquiring an additional 190,979 shares during the period. Allspring Global Investments Holdings LLC grew its position 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 valued at $5,301,000 after acquiring an additional 180,853 shares during the period. Finally, Knights of Columbus Asset Advisors LLC grew its position in shares of Tanger by 98.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 348,514 shares of the real estate investment trust’s stock valued at $9,661,000 after acquiring an additional 172,527 shares during the period. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SKT shares. Evercore ISI boosted their price objective 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. Citigroup raised shares of Tanger from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $33.00 in a research report on Friday, March 22nd. Finally, Bank of America raised shares of Tanger from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $24.00 to $31.00 in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.00.

Tanger Price Performance

Tanger stock traded up $0.21 during mid-day trading on Friday, hitting $28.88. The stock had a trading volume of 539,676 shares, compared to its average volume of 767,803. The firm has a market capitalization of $3.15 billion, a P/E ratio of 31.45, a P/E/G ratio of 3.62 and a beta of 1.83. 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’s 50 day moving average is $28.46 and its 200 day moving average is $26.77. Tanger Inc. has a one year low of $18.00 and a one year high of $29.98.

Tanger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.10 annualized dividend and a yield of 3.81%. This is an increase from Tanger’s previous quarterly dividend of $0.26. Tanger’s dividend payout ratio is currently 113.04%.

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.