Stevens Capital Management LP Purchases 6,471 Shares of Tanger Inc. (NYSE:SKT)

Stevens Capital Management LP lifted its position in Tanger Inc. (NYSE:SKT) by 26.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,383 shares of the real estate investment trust’s stock after buying an additional 6,471 shares during the quarter. Stevens Capital Management LP’s holdings in Tanger were worth $870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB bought a new position in Tanger during the fourth quarter worth $4,450,000. Asset Management One Co. Ltd. boosted its position in Tanger by 33.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 214,944 shares of the real estate investment trust’s stock worth $6,040,000 after purchasing an additional 53,985 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Tanger by 1,740.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 191,244 shares of the real estate investment trust’s stock worth $5,301,000 after purchasing an additional 180,853 shares during the period. Quantbot Technologies LP bought a new position in Tanger during the third quarter worth $746,000. Finally, Future Financial Wealth Managment LLC bought a new position in Tanger during the fourth quarter worth $210,000. 85.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

SKT has been the subject of a number of research reports. Citigroup raised Tanger from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $33.00 in a report on Friday, March 22nd. Evercore ISI boosted their price target on Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Finally, Bank of America upgraded Tanger from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $24.00 to $31.00 in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.00.

Tanger Trading Up 0.1 %

SKT traded up $0.02 during trading on Thursday, hitting $28.67. The company’s stock had a trading volume of 819,346 shares, compared to its average volume of 770,646. Tanger Inc. has a twelve month low of $18.00 and a twelve month high of $29.98. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 2.43. The stock’s fifty day moving average price is $28.44 and its 200-day moving average price is $26.76. The firm has a market capitalization of $3.13 billion, a P/E ratio of 30.98, a PEG ratio of 3.60 and a beta of 1.83.

Tanger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.84%. This is a positive change from Tanger’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, April 29th. Tanger’s dividend payout ratio is presently 113.04%.

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.