Tanger Inc. (NYSE:SKT) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its position in Tanger Inc. (NYSE:SKT) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,183 shares of the real estate investment trust’s stock after acquiring an additional 1,268 shares during the quarter. Federated Hermes Inc. owned approximately 0.16% of Tanger worth $4,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in shares of Tanger by 1,412.1% in the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 819 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Tanger in the second quarter worth $27,000. Whittier Trust Co. purchased a new stake in shares of Tanger during the second quarter worth $33,000. GAMMA Investing LLC raised its stake in shares of Tanger by 44.6% in the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 393 shares in the last quarter. Finally, CWM LLC boosted its holdings in Tanger by 418.6% in the second quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,398 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Stock Down 0.4 %

Shares of NYSE SKT opened at $31.30 on Thursday. The business has a 50-day moving average of $29.09 and a two-hundred day moving average of $28.21. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 3.21 and a beta of 1.89. Tanger Inc. has a 1 year low of $21.42 and a 1 year high of $32.05. 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

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.51%. The ex-dividend date was Wednesday, July 31st. Tanger’s payout ratio is 120.88%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Compass Point upped their price target on Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI upped their target price on shares of Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a research note on Monday. Finally, Scotiabank raised their target price on shares of Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.33.

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.