Los Angeles Capital Management LLC Sells 2,334 Shares of Tanger Inc. (NYSE:SKT)

Los Angeles Capital Management LLC decreased its holdings in shares of Tanger Inc. (NYSE:SKT) by 12.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,573 shares of the real estate investment trust’s stock after selling 2,334 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Tanger were worth $449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SKT. Blue Trust Inc. boosted its position in shares of 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 period. Whittier Trust Co. bought a new stake in shares of Tanger in the second quarter valued at approximately $33,000. GAMMA Investing LLC grew its position in Tanger by 44.6% during the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 393 shares in the last quarter. CWM LLC increased its stake in Tanger by 418.6% during the 2nd quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,398 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in Tanger in the 1st quarter valued at $91,000. Institutional investors own 85.23% of the company’s stock.

Analysts Set New Price Targets

SKT has been the topic of a number of recent analyst reports. Scotiabank raised their price target on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Compass Point raised their target price on shares of Tanger from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI increased their price target on shares of Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Tanger Stock Up 0.9 %

Shares of NYSE SKT opened at $31.83 on Friday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.14 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. Tanger Inc. has a 12 month low of $21.42 and a 12 month high of $32.05. The stock has a 50-day moving average price of $28.80 and a two-hundred day moving average price of $28.16.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.46%. Tanger’s dividend payout ratio (DPR) is presently 120.88%.

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.