MQS Management LLC Decreases Stock Position in Tanger Inc. (NYSE:SKT)

MQS Management LLC decreased its holdings in shares of Tanger Inc. (NYSE:SKT) by 11.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,032 shares of the real estate investment trust’s stock after selling 1,437 shares during the period. MQS Management LLC’s holdings in Tanger were worth $299,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 393 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Tanger by 1.3% during the first quarter. Maryland State Retirement & Pension System now owns 38,802 shares of the real estate investment trust’s stock worth $1,146,000 after purchasing an additional 512 shares during the period. EMC Capital Management boosted its position in Tanger by 5.1% in the first quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock valued at $422,000 after buying an additional 697 shares during the last quarter. American International Group Inc. increased its holdings in Tanger by 1.5% in the 1st quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock worth $1,671,000 after buying an additional 813 shares during the period. Finally, Blue Trust Inc. raised its position in Tanger by 1,412.1% during the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 819 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Down 0.1 %

SKT stock opened at $31.91 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.53. The firm has a 50-day moving average of $29.28 and a two-hundred day moving average of $28.25. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 3.23 and a beta of 1.89. Tanger Inc. has a 12 month low of $21.42 and a 12 month high of $32.05.

Tanger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.275 dividend. The ex-dividend date of this dividend 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 120.88%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SKT shares. Compass Point raised their target price on shares of Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI lifted their price objective on Tanger from $29.00 to $31.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Scotiabank upped their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Tanger currently has a consensus rating of “Hold” and an average target price 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.