GAMMA Investing LLC Has $68,000 Stock Position in Tanger Inc. (NYSE:SKT)

GAMMA Investing LLC increased its stake in Tanger Inc. (NYSE:SKT) by 62.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,064 shares of the real estate investment trust’s stock after purchasing an additional 790 shares during the quarter. GAMMA Investing LLC’s holdings in Tanger were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UniSuper Management Pty Ltd grew its position in Tanger by 84.0% during 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 in the last quarter. Hancock Whitney Corp raised its position in Tanger by 46.8% during the first quarter. Hancock Whitney Corp now owns 71,652 shares of the real estate investment trust’s stock valued at $2,116,000 after acquiring an additional 22,859 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Tanger by 3.6% in the first quarter. Texas Permanent School Fund Corp now owns 94,243 shares of the real estate investment trust’s stock valued at $2,783,000 after acquiring an additional 3,272 shares during the last quarter. ClariVest Asset Management LLC lifted its stake in Tanger by 146.6% in 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 acquiring an additional 42,651 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in 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 worth $2,150,000 after acquiring an additional 6,016 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Tanger Trading Up 1.2 %

Shares of NYSE:SKT opened at $34.06 on Wednesday. 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 Inc. has a 1 year low of $21.42 and a 1 year high of $34.54. The company has a market capitalization of $3.72 billion, a P/E ratio of 37.84, a P/E/G ratio of 3.41 and a beta of 1.89. The business’s 50 day simple moving average is $30.81 and its 200 day simple moving average is $28.69.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.275 dividend. 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 3.23%. Tanger’s payout ratio is presently 122.22%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SKT shares. Scotiabank raised their price target on shares of Tanger from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Compass Point raised their price objective on Tanger from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI boosted their price objective on Tanger from $29.00 to $31.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Bank of America raised their price objective on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

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.