Future Financial Wealth Managment LLC Purchases Shares of 6,864 Tanger Inc. (NYSE:SKT)

Future Financial Wealth Managment LLC acquired a new stake in shares of Tanger Inc. (NYSE:SKT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,864 shares of the real estate investment trust’s stock, valued at approximately $228,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in 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 acquiring an additional 819 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Tanger during the 2nd quarter valued at about $27,000. Whittier Trust Co. bought a new position in Tanger during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC increased its stake in Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 393 shares during the period. Finally, CWM LLC lifted its position 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 last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Performance

NYSE:SKT opened at $33.50 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.53. The firm’s fifty day simple moving average is $30.37 and its 200 day simple moving average is $28.57. The stock has a market cap of $3.66 billion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 3.32 and a beta of 1.89. Tanger Inc. has a twelve month low of $21.42 and a twelve month high of $33.63.

Tanger Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a $0.275 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 annualized dividend and a yield of 3.28%. Tanger’s dividend payout ratio (DPR) is presently 120.88%.

Analyst Upgrades and Downgrades

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