Versor Investments LP Makes New $312,000 Investment in Tanger Inc. (NYSE:SKT)

Versor Investments LP acquired a new stake in Tanger Inc. (NYSE:SKT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,500 shares of the real estate investment trust’s stock, valued at approximately $312,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Tanger by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 17,456,758 shares of the real estate investment trust’s stock valued at $515,498,000 after acquiring an additional 608,547 shares during the period. Wellington Management Group LLP increased its stake in Tanger by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 4,048,442 shares of the real estate investment trust’s stock valued at $112,223,000 after purchasing an additional 94,887 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Tanger by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,485 shares of the real estate investment trust’s stock worth $54,844,000 after buying an additional 110,297 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Tanger by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,487,323 shares of the real estate investment trust’s stock worth $41,230,000 after buying an additional 6,643 shares during the period. Finally, GRS Advisors LLC grew its holdings in shares of Tanger by 136.7% during the fourth quarter. GRS Advisors LLC now owns 1,335,138 shares of the real estate investment trust’s stock worth $37,010,000 after buying an additional 771,066 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Price Performance

Shares of SKT opened at $31.10 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.53. Tanger Inc. has a twelve month low of $21.42 and a twelve month high of $31.38. The firm has a market capitalization of $3.40 billion, a PE ratio of 34.18, a P/E/G ratio of 3.09 and a beta of 1.89. The stock’s 50 day moving average is $28.22 and its two-hundred day moving average is $28.06.

Tanger Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Wednesday, July 31st. Tanger’s dividend payout ratio (DPR) is currently 120.88%.

Analysts Set New Price Targets

SKT has been the subject of several analyst reports. Scotiabank upped their price objective on Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Evercore ISI upped their price target on Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Tanger has an average rating of “Hold” and a consensus target price of $30.67.

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.