Tanger Inc. (NYSE:SKT) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. cut its holdings in shares of Tanger Inc. (NYSE:SKT) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,313 shares of the real estate investment trust’s stock after selling 390 shares during the period. Crossmark Global Holdings Inc.’s holdings in Tanger were worth $225,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SKT. GAMMA Investing LLC increased its position in shares of Tanger by 44.6% in the 2nd 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. Maryland State Retirement & Pension System increased its position in shares of Tanger by 1.3% in the 1st 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. M&T Bank Corp increased its position in shares of Tanger by 6.1% in the 4th quarter. M&T Bank Corp now owns 10,019 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 573 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Tanger by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 53,300 shares of the real estate investment trust’s stock valued at $1,574,000 after acquiring an additional 600 shares during the period. Finally, Albert D Mason Inc. increased its position in shares of Tanger by 0.8% in the 1st quarter. Albert D Mason Inc. now owns 80,811 shares of the real estate investment trust’s stock valued at $2,386,000 after acquiring an additional 654 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Price Performance

NYSE:SKT opened at $30.76 on Thursday. Tanger Inc. has a one year low of $21.42 and a one year high of $31.07. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 3.09 and a beta of 1.89. The firm’s fifty day moving average is $28.13 and its two-hundred day moving average is $28.04.

Tanger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Wednesday, July 31st. Tanger’s payout ratio is 120.88%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Scotiabank upped their target price on Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI upped their target price on Tanger from $28.00 to $29.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Tanger has a consensus rating of “Hold” and a consensus target price of $30.67.

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.