Tanger Inc. (NYSE:SKT) Shares Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP lifted its holdings in Tanger Inc. (NYSE:SKT) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,785 shares of the real estate investment trust’s stock after purchasing an additional 3,391 shares during the quarter. Tanger comprises about 1.2% of Nicholas Investment Partners LP’s portfolio, making the stock its 20th biggest position. Nicholas Investment Partners LP’s holdings in Tanger were worth $11,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Tanger during the 4th quarter valued at about $346,000. M&T Bank Corp grew its stake in shares of Tanger by 6.1% during the fourth quarter. M&T Bank Corp now owns 10,019 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 573 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Tanger by 20.1% during the fourth quarter. Private Advisor Group LLC now owns 11,522 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 1,929 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $54,844,000 after purchasing an additional 110,297 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Tanger in the 4th quarter worth approximately $1,198,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKT has been the topic of a number of recent analyst reports. Compass Point upped their price target on shares of Tanger from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Scotiabank upped their target price on Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Evercore ISI lifted 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Tanger currently has a consensus rating of “Hold” and an average price target of $31.00.

Tanger Stock Up 0.9 %

NYSE:SKT opened at $30.91 on Thursday. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13. The company’s fifty day moving average price is $28.48 and its 200-day moving average price is $28.09. Tanger Inc. has a 1-year low of $21.42 and a 1-year high of $31.38. The firm has a market capitalization of $3.38 billion, a P/E ratio of 33.97, a PEG ratio of 3.17 and a beta of 1.89.

Tanger Announces Dividend

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

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.