Susquehanna Portfolio Strategies LLC Decreases Position in Tanger Inc. (NYSE:SKT)

Susquehanna Portfolio Strategies LLC decreased its position in Tanger Inc. (NYSE:SKT) by 64.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,407 shares of the real estate investment trust’s stock after selling 57,319 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Tanger were worth $851,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Tanger by 44.6% in the second quarter. GAMMA Investing LLC now owns 1,274 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 393 shares during the period. Maryland State Retirement & Pension System raised its stake in 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. EMC Capital Management lifted its holdings in Tanger by 5.1% during the first quarter. EMC Capital Management now owns 14,274 shares of the real estate investment trust’s stock valued at $422,000 after purchasing an additional 697 shares during the last quarter. American International Group Inc. lifted its holdings in Tanger by 1.5% during the first quarter. American International Group Inc. now owns 56,590 shares of the real estate investment trust’s stock valued at $1,671,000 after purchasing an additional 813 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Tanger by 1,412.1% during the second quarter. Blue Trust Inc. now owns 877 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 819 shares during the period. 85.23% of the stock is owned by institutional investors.

Tanger Stock Up 1.4 %

SKT opened at $33.00 on Friday. The firm has a market capitalization of $3.61 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 3.30 and a beta of 1.89. Tanger Inc. has a one year low of $21.42 and a one year high of $33.24. The company has a fifty day moving average price of $29.73 and a 200-day moving average price of $28.36. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.13 and a quick ratio of 0.13.

Tanger Dividend Announcement

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. The ex-dividend date was Wednesday, July 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.33%. Tanger’s payout ratio is currently 120.88%.

Wall Street Analysts Forecast Growth

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

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.