Vanderbilt University Invests $490,000 in Tanger Inc. (NYSE:SKT)

Vanderbilt University acquired a new stake in shares of Tanger Inc. (NYSE:SKT) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 14,761 shares of the real estate investment trust’s stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. boosted 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 purchasing an additional 819 shares during the period. HHM Wealth Advisors LLC purchased a new stake in shares of Tanger in the second quarter worth about $27,000. Whittier Trust Co. bought a new position in shares of Tanger in the second quarter valued at approximately $33,000. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 393 shares during the period. Finally, CWM LLC grew its stake 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 acquiring an additional 1,398 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Price Performance

Shares of Tanger stock traded up $0.48 on Monday, hitting $34.17. 14,739 shares of the company traded hands, compared to its average volume of 729,964. Tanger Inc. has a 12-month low of $21.42 and a 12-month high of $34.81. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.53. The company has a market cap of $3.74 billion, a P/E ratio of 37.43, a P/E/G ratio of 2.86 and a beta of 1.89. The firm’s 50-day simple moving average is $32.01 and its 200 day simple moving average is $29.08.

Tanger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.22%. Tanger’s payout ratio is 122.22%.

Analyst Ratings Changes

Several research firms have issued reports on SKT. Bank of America increased their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Compass Point increased their price objective on Tanger from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday. Evercore ISI boosted their target price on Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Scotiabank upped their target price on Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.33.

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.