Tanger Inc. (NYSE:SKT) Shares Bought by Hancock Whitney Corp

Hancock Whitney Corp increased its position in Tanger Inc. (NYSE:SKT) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,896 shares of the real estate investment trust’s stock after buying an additional 4,244 shares during the quarter. Hancock Whitney Corp owned about 0.07% of Tanger worth $2,058,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SKT. GRS Advisors LLC lifted its holdings in Tanger by 136.7% in 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 acquiring an additional 771,066 shares during the last quarter. Norges Bank bought a new stake in Tanger during the fourth quarter worth approximately $19,141,000. UniSuper Management Pty Ltd grew its position in Tanger by 84.0% in the first quarter. UniSuper Management Pty Ltd now owns 53,369 shares of the real estate investment trust’s stock worth $1,576,000 after buying an additional 24,369 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Tanger by 3.6% in the first 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 buying an additional 3,272 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Tanger by 6.6% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 565,653 shares of the real estate investment trust’s stock valued at $15,680,000 after acquiring an additional 34,833 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Down 0.1 %

Shares of Tanger stock 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 cap of $3.49 billion, a P/E ratio of 35.07, a P/E/G ratio of 3.23 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. The stock has a 50-day moving average price of $29.28 and a 200 day moving average price of $28.24.

Tanger Dividend Announcement

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

Analysts Set New Price Targets

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