New York State Teachers Retirement System Lowers Stake in Tanger Inc. (NYSE:SKT)

New York State Teachers Retirement System cut its holdings in shares of Tanger Inc. (NYSE:SKT) by 0.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 173,808 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. New York State Teachers Retirement System owned approximately 0.16% of Tanger worth $5,767,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UniSuper Management Pty Ltd grew its holdings in Tanger by 84.0% in the first quarter. UniSuper Management Pty Ltd now owns 53,369 shares of the real estate investment trust’s stock valued at $1,576,000 after purchasing an additional 24,369 shares during the period. Hancock Whitney Corp increased its holdings in Tanger by 46.8% in the 1st quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust’s stock worth $2,116,000 after acquiring an additional 22,859 shares in the last quarter. Texas Permanent School Fund Corp raised its position in Tanger by 3.6% during the first quarter. Texas Permanent School Fund Corp now owns 94,243 shares of the real estate investment trust’s stock worth $2,783,000 after acquiring an additional 3,272 shares during the period. ClariVest Asset Management LLC lifted its holdings in Tanger by 146.6% during the first quarter. ClariVest Asset Management LLC now owns 71,741 shares of the real estate investment trust’s stock valued at $2,119,000 after purchasing an additional 42,651 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Tanger by 9.0% in the first quarter. BNP Paribas Financial Markets now owns 72,813 shares of the real estate investment trust’s stock valued at $2,150,000 after purchasing an additional 6,016 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Stock Up 0.1 %

SKT stock opened at $33.48 on Wednesday. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 2.81 and a beta of 1.88. The firm has a 50-day moving average of $32.61 and a two-hundred day moving average of $29.42. Tanger Inc. has a 12 month low of $23.39 and a 12 month high of $34.81. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.29%. Tanger’s payout ratio is 122.22%.

Wall Street Analyst Weigh In

SKT has been the subject of several research analyst reports. Scotiabank upped their price target on shares of Tanger from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Bank of America increased their target price on Tanger from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Evercore ISI lifted their price target on Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, Compass Point increased their price objective on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

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.