Nicholas Investment Partners LP Acquires 3,391 Shares of Tanger Inc. (NYSE:SKT)

Nicholas Investment Partners LP increased its holdings in shares of Tanger Inc. (NYSE:SKT) by 0.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 409,785 shares of the real estate investment trust’s stock after acquiring an additional 3,391 shares during the period. Tanger comprises 1.2% of Nicholas Investment Partners LP’s portfolio, making the stock its 20th biggest position. Nicholas Investment Partners LP owned about 0.37% of Tanger worth $11,109,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Tanger during the fourth quarter worth $346,000. M&T Bank Corp lifted its holdings 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 valued at $278,000 after buying an additional 573 shares in the last quarter. Private Advisor Group LLC boosted its position in Tanger by 20.1% in the 4th quarter. Private Advisor Group LLC now owns 11,522 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 1,929 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Tanger by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,978,485 shares of the real estate investment trust’s stock worth $54,844,000 after acquiring an additional 110,297 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Tanger during the fourth quarter worth approximately $1,198,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Up 0.9 %

Shares of NYSE SKT opened at $30.91 on Thursday. Tanger Inc. has a 12-month low of $21.42 and a 12-month high of $31.38. The stock’s fifty day simple moving average is $28.48 and its two-hundred day simple moving average is $28.09. The stock has a market capitalization of $3.38 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 3.17 and a beta of 1.89. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.53.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.275 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 annualized dividend and a yield of 3.56%. Tanger’s dividend payout ratio (DPR) is presently 120.88%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SKT. Scotiabank boosted their price target on Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Compass Point lifted their target price on Tanger from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Evercore ISI increased 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, August 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Tanger currently has an average rating of “Hold” and an average price target of $31.00.

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.