Massachusetts Financial Services Co. MA Has $9.39 Million Holdings in Tanger Inc. (NYSE:SKT)

Massachusetts Financial Services Co. MA lifted its position in shares of Tanger Inc. (NYSE:SKT) by 15.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 346,182 shares of the real estate investment trust’s stock after purchasing an additional 45,534 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.32% of Tanger worth $9,385,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GRS Advisors LLC increased its stake in Tanger by 136.7% during the 4th quarter. GRS Advisors LLC now owns 1,335,138 shares of the real estate investment trust’s stock valued at $37,010,000 after purchasing an additional 771,066 shares in the last quarter. Norges Bank bought a new stake in shares of Tanger during the fourth quarter worth about $19,141,000. UniSuper Management Pty Ltd raised its holdings in shares of Tanger by 84.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 53,369 shares of the real estate investment trust’s stock worth $1,576,000 after acquiring an additional 24,369 shares during the last quarter. Hancock Whitney Corp lifted its position in Tanger by 46.8% in the 1st quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust’s stock valued at $2,116,000 after acquiring an additional 22,859 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in Tanger by 3.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 94,243 shares of the real estate investment trust’s stock valued at $2,783,000 after purchasing an additional 3,272 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Down 0.1 %

Shares of NYSE:SKT opened at $31.91 on Friday. Tanger Inc. has a 1 year low of $21.42 and a 1 year high of $32.05. The company has a market capitalization of $3.49 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 3.23 and a beta of 1.89. The business has a fifty day moving average price of $29.28 and a two-hundred day moving average price of $28.24. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.275 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.45%. Tanger’s dividend payout ratio (DPR) is presently 120.88%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SKT. Compass Point raised their target price on Tanger from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Evercore ISI raised their price objective on Tanger from $29.00 to $31.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Scotiabank upped their target price on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.33.

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.