XTX Topco Ltd Takes Position in Tanger Inc. (NYSE:SKT)

XTX Topco Ltd bought a new stake in Tanger Inc. (NYSE:SKT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,542 shares of the real estate investment trust’s stock, valued at approximately $204,000.

Other large investors have also made changes to their positions in the company. GRS Advisors LLC grew its stake in Tanger by 136.7% during the 4th 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. Norges Bank acquired a new stake in Tanger in the 4th quarter worth approximately $19,141,000. UniSuper Management Pty Ltd increased its stake in Tanger by 84.0% during the 1st 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 in the last quarter. Hancock Whitney Corp raised its holdings in shares of Tanger by 46.8% in the first quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust’s stock worth $2,116,000 after buying an additional 22,859 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in shares of 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 buying an additional 3,272 shares during the period. 85.23% of the stock is owned by institutional investors and hedge funds.

Tanger Price Performance

NYSE:SKT opened at $33.00 on Monday. The company has a 50 day moving average price of $29.73 and a 200-day moving average price of $28.35. Tanger Inc. has a 1-year low of $21.42 and a 1-year high of $33.24. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 3.30 and a beta of 1.89. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.33%. Tanger’s dividend payout ratio is presently 120.88%.

Analysts Set New Price Targets

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

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.