Neo Ivy Capital Management acquired a new stake in Tanger Inc. (NYSE:SKT – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,576 shares of the real estate investment trust’s stock, valued at approximately $151,000.
Several other hedge funds also recently modified their holdings of SKT. GRS Advisors LLC boosted its position in shares of Tanger by 136.7% in the fourth quarter. GRS Advisors LLC now owns 1,335,138 shares of the real estate investment trust’s stock valued at $37,010,000 after acquiring an additional 771,066 shares during the period. Norges Bank bought a new position in Tanger in the fourth quarter worth $19,141,000. Waterfront Capital Partners LLC lifted its position in Tanger by 73.3% in the fourth quarter. Waterfront Capital Partners LLC now owns 1,535,310 shares of the real estate investment trust’s stock worth $42,559,000 after purchasing an additional 649,610 shares during the period. Vanguard Group Inc. lifted its position in Tanger by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,456,758 shares of the real estate investment trust’s stock worth $515,498,000 after purchasing an additional 608,547 shares during the period. Finally, BROOKFIELD Corp ON bought a new position in Tanger in the first quarter worth $10,441,000. 85.23% of the stock is owned by institutional investors.
Tanger Trading Down 0.3 %
Shares of Tanger stock traded down $0.08 during trading on Tuesday, hitting $28.22. 121,952 shares of the company were exchanged, compared to its average volume of 752,672. The firm has a market capitalization of $3.09 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 2.80 and a beta of 1.90. Tanger Inc. has a 1-year low of $21.42 and a 1-year high of $29.98. The firm’s fifty day moving average price is $27.44 and its 200 day moving average price is $27.79. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13.
Tanger Dividend Announcement
Wall Street Analyst Weigh In
SKT has been the subject of several research reports. Scotiabank raised Tanger from a “sector underperform” rating to a “sector perform” rating and raised their target price for the stock from $20.00 to $28.00 in a research report on Friday, May 17th. Compass Point raised Tanger from a “neutral” rating to a “buy” rating and raised their target price for the stock from $31.00 to $32.00 in a research report on Thursday, May 2nd. Finally, Evercore ISI reduced their target price on Tanger from $29.00 to $28.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.17.
Check Out Our Latest Stock Report on SKT
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.
Featured Articles
- Five stocks we like better than Tanger
- 3 Warren Buffett Stocks to Buy Now
- Columbia Sportswear: A Turnaround Story That’s Gaining Ground
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Lowe’s Stock: Hold Now, Buy it When it Dips
- Roth IRA Calculator: Calculate Your Potential Returns
- ZIM Shipping Stock Soars as the Industry Shows a Bottoming Trend
Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Inc. (NYSE:SKT – Free Report).
Receive News & Ratings for Tanger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger and related companies with MarketBeat.com's FREE daily email newsletter.