Tanger Inc. (NYSE:SKT) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its stake in shares of Tanger Inc. (NYSE:SKT) by 3.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 116,604 shares of the real estate investment trust’s stock after purchasing an additional 3,900 shares during the period. First Eagle Investment Management LLC owned approximately 0.11% of Tanger worth $3,161,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. GRS Advisors LLC grew its holdings in Tanger by 136.7% during the fourth quarter. GRS Advisors LLC now owns 1,335,138 shares of the real estate investment trust’s stock worth $37,010,000 after acquiring an additional 771,066 shares during the period. Norges Bank purchased a new position in shares of Tanger during the 4th quarter valued at approximately $19,141,000. UniSuper Management Pty Ltd lifted its stake in shares of Tanger by 84.0% in the 1st 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 boosted its holdings in Tanger by 46.8% during the first quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust’s stock worth $2,116,000 after buying an additional 22,859 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in Tanger by 3.6% during the first quarter. Texas Permanent School Fund Corp now owns 94,243 shares of the real estate investment trust’s stock worth $2,783,000 after buying an additional 3,272 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Down 0.1 %

SKT opened at $31.91 on Friday. The company has a market cap of $3.49 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 3.23 and a beta of 1.89. Tanger Inc. has a twelve month low of $21.42 and a twelve month high of $32.05. The company has a 50-day moving average price of $29.28 and a 200 day moving average price of $28.25. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.53.

Tanger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a $0.275 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.45%. Tanger’s dividend payout ratio (DPR) is presently 120.88%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Scotiabank upped their price target on 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 raised their price objective on Tanger from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.