International Assets Investment Management LLC Grows Position in Tanger Inc. (NYSE:SKT)

International Assets Investment Management LLC raised its holdings in shares of Tanger Inc. (NYSE:SKT) by 3,218.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,931 shares of the real estate investment trust’s stock after buying an additional 14,481 shares during the quarter. International Assets Investment Management LLC’s holdings in Tanger were worth $495,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Tanger by 3.6% during the first quarter. Vanguard Group Inc. now owns 17,456,758 shares of the real estate investment trust’s stock worth $515,498,000 after buying an additional 608,547 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tanger by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,628,331 shares of the real estate investment trust’s stock valued at $44,144,000 after purchasing an additional 123,107 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Tanger by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 1,091,856 shares of the real estate investment trust’s stock valued at $29,600,000 after purchasing an additional 55,794 shares during the period. Land & Buildings Investment Management LLC grew its holdings in shares of Tanger by 52.4% in the second quarter. Land & Buildings Investment Management LLC now owns 1,043,287 shares of the real estate investment trust’s stock valued at $28,284,000 after purchasing an additional 358,860 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Tanger by 8.2% in the second quarter. Millennium Management LLC now owns 767,166 shares of the real estate investment trust’s stock valued at $20,798,000 after purchasing an additional 58,205 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Compass Point increased their target price on shares of Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Scotiabank increased their target price on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Evercore ISI increased their target price on shares of Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Three investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Tanger Trading Up 0.1 %

Shares of SKT stock opened at $33.48 on Wednesday. The firm has a market cap of $3.66 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 2.81 and a beta of 1.88. Tanger Inc. has a 1-year low of $23.39 and a 1-year high of $34.81. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13. The company has a 50-day moving average of $32.61 and a two-hundred day moving average of $29.42.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.275 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.29%. Tanger’s dividend payout ratio is presently 122.22%.

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.