Mirae Asset Global Investments Co. Ltd. Has $104,000 Stock Holdings in Tanger Inc. (NYSE:SKT)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Tanger Inc. (NYSE:SKT) by 28.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,052 shares of the real estate investment trust’s stock after selling 1,192 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Tanger were worth $104,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SKT. Loomis Sayles & Co. L P increased its position in Tanger by 3,393.9% during the third quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,663 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Tanger by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 2,578 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 514 shares during the last quarter. KBC Group NV increased its holdings in shares of Tanger by 31.5% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 881 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Tanger in the 3rd quarter valued at approximately $151,000. Finally, Truvestments Capital LLC acquired a new stake in Tanger in the 3rd quarter worth approximately $160,000. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SKT shares. Bank of America upgraded Tanger from a “neutral” rating to a “buy” rating and increased their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Tanger in a research note on Tuesday, December 17th. They issued a “hold” rating and a $37.00 target price on the stock. BMO Capital Markets assumed coverage on shares of Tanger in a research report on Tuesday, January 28th. They set a “market perform” rating and a $36.00 target price for the company. Citigroup raised their price target on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Compass Point boosted their price objective on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Tanger has a consensus rating of “Hold” and an average price target of $36.00.

Insiders Place Their Bets

In other news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the transaction, the chief accounting officer now owns 59,641 shares in the company, valued at approximately $2,163,179.07. This represents a 4.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.80% of the company’s stock.

Tanger Stock Down 0.8 %

Shares of SKT opened at $34.23 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. The company has a 50-day simple moving average of $33.83 and a 200-day simple moving average of $32.99. Tanger Inc. has a 52 week low of $25.94 and a 52 week high of $37.57. The firm has a market capitalization of $3.79 billion, a P/E ratio of 39.80, a P/E/G ratio of 2.82 and a beta of 1.91.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.21%. Tanger’s dividend payout ratio is currently 127.91%.

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.