Tanger Inc. (NYSE:SKT) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. grew its stake in Tanger Inc. (NYSE:SKT) by 504.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,298 shares of the real estate investment trust’s stock after purchasing an additional 4,421 shares during the quarter. Blue Trust Inc.’s holdings in Tanger were worth $176,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. UniSuper Management Pty Ltd grew its position in shares of 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 valued at $1,576,000 after purchasing an additional 24,369 shares during the period. Hancock Whitney Corp grew its position in shares of Tanger by 46.8% in the first quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust’s stock valued at $2,116,000 after purchasing an additional 22,859 shares during the period. Texas Permanent School Fund Corp grew its position 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 purchasing an additional 3,272 shares during the period. ClariVest Asset Management LLC grew its position in shares of Tanger by 146.6% in the first quarter. ClariVest Asset Management LLC now owns 71,741 shares of the real estate investment trust’s stock valued at $2,119,000 after purchasing an additional 42,651 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Tanger by 9.0% in the first quarter. BNP Paribas Financial Markets now owns 72,813 shares of the real estate investment trust’s stock valued at $2,150,000 after purchasing an additional 6,016 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Price Performance

Shares of SKT stock opened at $33.69 on Friday. 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 firm’s 50-day moving average is $32.01 and its two-hundred day moving average is $29.07. Tanger Inc. has a 12 month low of $21.42 and a 12 month high of $34.81. The company has a market capitalization of $3.68 billion, a PE ratio of 37.43, a price-to-earnings-growth ratio of 2.89 and a beta of 1.89.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Thursday, October 31st. Tanger’s dividend payout ratio (DPR) is presently 122.22%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Compass Point raised their price target on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI raised their price target on shares of Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a research note 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 research note on Monday, August 26th. Finally, Bank of America raised their price target on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.33.

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.