Thrivent Financial for Lutherans Purchases 109,388 Shares of Tanger Inc. (NYSE:SKT)

Thrivent Financial for Lutherans increased its holdings in Tanger Inc. (NYSE:SKT) by 42.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 368,612 shares of the real estate investment trust’s stock after acquiring an additional 109,388 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Tanger were worth $9,993,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Tanger by 1,412.1% in the 2nd 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. HHM Wealth Advisors LLC purchased a new stake in Tanger in the second quarter valued at approximately $27,000. Whittier Trust Co. bought a new stake in Tanger during the second quarter valued at approximately $33,000. GAMMA Investing LLC grew its stake in Tanger by 44.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 393 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Tanger by 418.6% in the 2nd quarter. CWM LLC now owns 1,732 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 1,398 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Performance

NYSE:SKT opened at $32.49 on Thursday. The firm’s fifty day simple moving average is $29.55 and its 200 day simple moving average is $28.30. Tanger Inc. has a twelve month low of $21.42 and a twelve month high of $32.63. 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 stock has a market cap of $3.55 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 3.27 and a beta of 1.89.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Wednesday, July 31st. Tanger’s dividend payout ratio is currently 120.88%.

Analysts Set New Price Targets

SKT has been the subject of a number of research reports. Compass Point upped their price objective on Tanger from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI increased their target price on shares of Tanger from $29.00 to $31.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Scotiabank boosted their price target on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.33.

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.