O Shaughnessy Asset Management LLC Cuts Stock Holdings in Tanger Inc. (NYSE:SKT)

O Shaughnessy Asset Management LLC lowered its stake in shares of Tanger Inc. (NYSE:SKT) by 1.5% during the first quarter, HoldingsChannel.com reports. The firm owned 65,480 shares of the real estate investment trust’s stock after selling 1,009 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Tanger were worth $1,934,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in shares of Tanger in the 1st quarter valued at $91,000. SageView Advisory Group LLC purchased a new position in shares of Tanger in the 1st quarter valued at $145,000. Future Financial Wealth Managment LLC purchased a new position in shares of Tanger in the 4th quarter valued at $210,000. D.A. Davidson & CO. purchased a new position in shares of Tanger in the 4th quarter valued at $224,000. Finally, Investment Management Associates Inc. ADV purchased a new position in shares of Tanger in the 4th quarter valued at $241,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SKT shares. Scotiabank raised shares of Tanger from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $20.00 to $28.00 in a research note on Friday, May 17th. Bank of America raised shares of Tanger from an “underperform” rating to a “neutral” rating and raised their target price for the company from $24.00 to $31.00 in a research note on Friday, April 5th. Compass Point raised shares of Tanger from a “neutral” rating to a “buy” rating and raised their target price for the company from $31.00 to $32.00 in a research note on Thursday, May 2nd. Finally, Evercore ISI dropped their price target on shares of Tanger from $29.00 to $28.00 and set an “in-line” rating on the stock in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Tanger has a consensus rating of “Hold” and a consensus price target of $29.57.

Tanger Stock Performance

Tanger stock opened at $27.95 on Thursday. Tanger Inc. has a 12-month low of $21.42 and a 12-month high of $29.98. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 3.10 and a beta of 1.90. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.20 and a quick ratio of 0.20. The firm’s fifty day moving average price is $27.22 and its 200 day moving average price is $27.71.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.94%. The ex-dividend date is Wednesday, July 31st. Tanger’s dividend payout ratio is currently 120.88%.

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.