Pensionfund Sabic Has $465,000 Stock Position in Tanger Inc. (NYSE:SKT)

by · The Markets Daily

Pensionfund Sabic cut its stake in shares of Tanger Inc. (NYSE:SKT – Free Report) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,000 shares of the real estate investment trust’s stock after selling 3,000 shares during the period. Pensionfund Sabic’s holdings in Tanger were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Tanger by 44.6% during the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 393 shares during the period. Maryland State Retirement & Pension System increased its position in Tanger by 1.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 38,802 shares of the real estate investment trust’s stock worth $1,146,000 after buying an additional 512 shares during the period. EMC Capital Management lifted its holdings in shares of Tanger by 5.1% during the first quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock worth $422,000 after buying an additional 697 shares in the last quarter. American International Group Inc. boosted its position in shares of Tanger by 1.5% in the first quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock valued at $1,671,000 after acquiring an additional 813 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Tanger by 1,412.1% in the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 819 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Price Performance

SKT stock opened at $33.56 on Friday. The company’s 50-day moving average price is $30.56 and its two-hundred day moving average price is $28.64. Tanger Inc. has a 12 month low of $21.42 and a 12 month high of $33.85. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 2.53. The firm has a market cap of $3.67 billion, a P/E ratio of 37.28, a P/E/G ratio of 3.42 and a beta of 1.89.

Tanger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.28%. The ex-dividend date was Wednesday, July 31st. Tanger’s payout ratio is presently 122.22%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Compass Point lifted their price objective on shares of Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Scotiabank lifted their price target on shares of Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Evercore ISI boosted their price target on Tanger from $29.00 to $31.00 and gave the company 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 company’s stock. According to MarketBeat.com, Tanger currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

Check Out Our Latest Stock Analysis on Tanger

Tanger Profile

(Free Report)

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.

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