Mutual of America Capital Management LLC Has $572,000 Stock Position in Tanger Inc. (NYSE:SKT)

Mutual of America Capital Management LLC raised its stake in Tanger Inc. (NYSE:SKT) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,767 shares of the real estate investment trust’s stock after purchasing an additional 319 shares during the period. Mutual of America Capital Management LLC’s holdings in Tanger were worth $572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Loomis Sayles & Co. L P raised its stake in shares of Tanger by 3,393.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,712 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 1,663 shares in the last quarter. GAMMA Investing LLC increased its stake in Tanger by 24.9% in the fourth 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 period. KBC Group NV grew its position in Tanger by 31.5% in the third 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 period. Truvestments Capital LLC bought a new position in Tanger during the 3rd quarter valued at about $160,000. Finally, Exchange Traded Concepts LLC boosted its position in Tanger by 12.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,131 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 583 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SKT. Bank of America raised Tanger from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. The Goldman Sachs Group lifted their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Citigroup increased their price target on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 price objective for the company. Finally, BMO Capital Markets initiated coverage on shares of Tanger in a report on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.00.

Tanger Stock Down 1.5 %

Tanger stock opened at $33.63 on Monday. The company has a 50 day moving average of $33.90 and a 200-day moving average of $33.78. Tanger Inc. has a twelve month low of $25.94 and a twelve month high of $37.57. The stock has a market capitalization of $3.79 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.88. The company has a quick ratio of 0.13, a current ratio of 0.44 and a debt-to-equity ratio of 2.09.

Tanger (NYSE:SKT) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Tanger had a net margin of 18.65% and a return on equity of 16.16%. The company had revenue of $132.17 million for the quarter, compared to the consensus estimate of $129.10 million. On average, equities research analysts anticipate that Tanger Inc. will post 2.24 EPS for the current fiscal year.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Friday, January 31st. Tanger’s payout ratio is presently 126.44%.

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.