Mutual of America Capital Management LLC Has $546,000 Holdings in Tanger Inc. (NYSE:SKT)

Mutual of America Capital Management LLC trimmed its holdings in Tanger Inc. (NYSE:SKT) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,448 shares of the real estate investment trust’s stock after selling 1,526 shares during the period. Mutual of America Capital Management LLC’s holdings in Tanger were worth $546,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Land & Buildings Investment Management LLC raised its stake in Tanger by 52.4% in the 2nd 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 acquiring an additional 358,860 shares during the period. Burney Co. bought a new position in shares of Tanger in the first quarter valued at about $7,158,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Tanger during the 2nd quarter worth about $4,539,000. Point72 Asset Management L.P. bought a new stake in shares of Tanger during the 2nd quarter worth about $3,462,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Tanger by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,628,331 shares of the real estate investment trust’s stock worth $44,144,000 after buying an additional 123,107 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Evercore ISI lifted their price target on Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Bank of America raised Tanger from a “neutral” rating to a “buy” rating and upped their price objective for the company from $35.00 to $40.00 in a report on Monday, November 11th. Scotiabank lifted their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Citigroup upped their price target on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Tanger currently has an average rating of “Moderate Buy” and a consensus target price of $34.86.

Tanger Stock Up 0.5 %

Shares of NYSE SKT opened at $36.87 on Wednesday. The stock has a market capitalization of $4.08 billion, a P/E ratio of 42.47, a PEG ratio of 2.85 and a beta of 1.88. The stock’s fifty day moving average is $34.02 and its 200 day moving average is $30.19. Tanger Inc. has a 52 week low of $24.72 and a 52 week high of $37.01. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13.

Tanger (NYSE:SKT) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.31). The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $125.80 million. Tanger had a net margin of 18.55% and a return on equity of 16.25%. Tanger’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Sell-side analysts forecast that Tanger Inc. will post 2.11 earnings per share for the current fiscal year.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Thursday, October 31st. Tanger’s dividend payout ratio is presently 127.91%.

Insider Activity

In related news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of Tanger stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total transaction of $108,810.00. Following the sale, the chief accounting officer now directly owns 59,641 shares of the company’s stock, valued at approximately $2,163,179.07. The trade was a 4.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.80% of the company’s stock.

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.