6,072 Shares in Tanger Inc. (NYSE:SKT) Purchased by Custom Index Systems LLC

Custom Index Systems LLC purchased a new stake in Tanger Inc. (NYSE:SKT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 6,072 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Several other large investors have also recently bought and sold shares of SKT. State of Alaska Department of Revenue lifted its holdings in Tanger by 2.0% during the 1st quarter. State of Alaska Department of Revenue now owns 115,090 shares of the real estate investment trust’s stock worth $3,397,000 after purchasing an additional 2,237 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Tanger by 1.3% in the first quarter. Maryland State Retirement & Pension System now owns 38,802 shares of the real estate investment trust’s stock valued at $1,146,000 after acquiring an additional 512 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Tanger by 9.0% in the first quarter. BNP Paribas Financial Markets now owns 72,813 shares of the real estate investment trust’s stock valued at $2,150,000 after acquiring an additional 6,016 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Tanger during the first quarter worth about $91,000. Finally, Daiwa Securities Group Inc. raised its stake in Tanger by 9.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 34,895 shares of the real estate investment trust’s stock worth $1,030,000 after purchasing an additional 2,981 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Tanger Stock Down 2.1 %

SKT stock opened at $33.69 on Monday. The stock has a market capitalization of $3.68 billion, a P/E ratio of 37.43, a price-to-earnings-growth ratio of 2.86 and a beta of 1.89. 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 firm has a 50-day moving average price of $32.01 and a 200-day moving average price of $29.08. Tanger Inc. has a 12 month low of $21.42 and a 12 month high of $34.81.

Tanger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.27%. The ex-dividend date is Thursday, October 31st. Tanger’s payout ratio is 122.22%.

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.