Point72 Asia Singapore Pte. Ltd. acquired a new position in Tanger Inc. (NYSE:SKT – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,812 shares of the real estate investment trust’s stock, valued at approximately $49,000.
Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Tanger by 1,412.1% in the 2nd quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 819 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Tanger in the second quarter worth approximately $27,000. Whittier Trust Co. bought a new position in shares of Tanger in the second quarter worth approximately $33,000. GAMMA Investing LLC raised its stake in Tanger by 44.6% in the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 393 shares in the last quarter. Finally, CWM LLC lifted its position in Tanger by 418.6% during the second quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,398 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.
Tanger Stock Up 2.4 %
Shares of NYSE SKT opened at $33.42 on Friday. The firm’s fifty day moving average is $30.19 and its 200 day moving average is $28.51. Tanger Inc. has a 52 week low of $21.42 and a 52 week high of $33.43. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.53. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 36.73, a PEG ratio of 3.32 and a beta of 1.89.
Tanger Dividend Announcement
Analyst Upgrades and Downgrades
SKT has been the topic of a number of research analyst reports. Evercore ISI increased their price target on shares of Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank increased their target price on Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Compass Point lifted their price target on Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.33.
Get Our Latest Stock Analysis on SKT
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.
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