Tanger Inc. (NYSE:SKT) Stock Position Lowered by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. decreased its position in Tanger Inc. (NYSE:SKT) by 2.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 367,670 shares of the real estate investment trust’s stock after selling 7,836 shares during the period. Tanger accounts for about 3.7% of O Keefe Stevens Advisory Inc.’s investment portfolio, making the stock its 10th biggest position. O Keefe Stevens Advisory Inc. owned approximately 0.34% of Tanger worth $12,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of 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 buying an additional 819 shares during the period. HHM Wealth Advisors LLC purchased a new stake in Tanger in the second quarter worth about $27,000. Whittier Trust Co. bought a new position in Tanger during the 2nd quarter worth about $33,000. GAMMA Investing LLC increased its position in Tanger by 44.6% during the 2nd 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 during the period. Finally, CWM LLC raised its holdings in shares of Tanger by 418.6% in the 2nd 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 in the last quarter. Institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of Tanger from $29.00 to $31.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Scotiabank lifted their price target on Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Compass Point boosted their price target on Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.33.

Tanger Price Performance

Shares of SKT opened at $33.50 on Wednesday. The company has a 50 day moving average of $30.37 and a two-hundred day moving average of $28.57. 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 Inc. has a twelve month low of $21.42 and a twelve month high of $33.63. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 36.81, a price-to-earnings-growth ratio of 3.32 and a beta of 1.89.

Tanger Dividend Announcement

The firm also recently disclosed 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 of this dividend was Wednesday, July 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.28%. Tanger’s payout ratio is 120.88%.

Tanger Company 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.