Bamco Inc. NY Sells 23,600 Shares of Tanger Inc. (NYSE:SKT)

Bamco Inc. NY trimmed its holdings in Tanger Inc. (NYSE:SKT) by 21.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,325 shares of the real estate investment trust’s stock after selling 23,600 shares during the period. Bamco Inc. NY owned about 0.08% of Tanger worth $2,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Tanger by 3.6% during the first quarter. Vanguard Group Inc. now owns 17,456,758 shares of the real estate investment trust’s stock worth $515,498,000 after purchasing an additional 608,547 shares during the period. Wellington Management Group LLP increased its holdings in Tanger by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 4,048,442 shares of the real estate investment trust’s stock worth $112,223,000 after purchasing an additional 94,887 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Tanger by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,978,485 shares of the real estate investment trust’s stock valued at $54,844,000 after buying an additional 110,297 shares during the last quarter. Waterfront Capital Partners LLC grew its stake in shares of Tanger by 73.3% in the fourth quarter. Waterfront Capital Partners LLC now owns 1,535,310 shares of the real estate investment trust’s stock worth $42,559,000 after purchasing an additional 649,610 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Tanger by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,487,323 shares of the real estate investment trust’s stock valued at $41,230,000 after buying an additional 6,643 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Stock Performance

Shares of NYSE SKT traded up $0.27 during trading on Monday, hitting $28.62. The company had a trading volume of 162,718 shares, compared to its average volume of 749,365. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.20 and a current ratio of 0.20. Tanger Inc. has a 12 month low of $21.42 and a 12 month high of $29.98. The firm has a market capitalization of $3.13 billion, a P/E ratio of 31.15, a price-to-earnings-growth ratio of 3.02 and a beta of 1.90. The stock has a 50 day simple moving average of $27.23 and a 200 day simple moving average of $27.72.

Tanger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, July 31st. Tanger’s dividend payout ratio (DPR) is presently 120.88%.

Analysts Set New Price Targets

Several research analysts have issued reports on SKT shares. Compass Point upgraded Tanger from a “neutral” rating to a “buy” rating and increased their price target for the stock from $31.00 to $32.00 in a report on Thursday, May 2nd. Evercore ISI lowered 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 report on Wednesday, May 1st. Scotiabank upgraded Tanger from a “sector underperform” rating to a “sector perform” rating and raised their target price for the stock from $20.00 to $28.00 in a research note on Friday, May 17th. Finally, Bank of America upgraded shares of Tanger from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $24.00 to $31.00 in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tanger has an average rating of “Hold” and a consensus price target of $29.57.

About Tanger

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.