Bailard Inc. Buys 600 Shares of Tanger Inc. (NYSE:SKT)

Bailard Inc. boosted its stake in Tanger Inc. (NYSE:SKT) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,900 shares of the real estate investment trust’s stock after acquiring an additional 600 shares during the period. Bailard Inc.’s holdings in Tanger were worth $413,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Tanger by 33.1% in the 3rd quarter. FMR LLC now owns 4,315,625 shares of the real estate investment trust’s stock worth $97,533,000 after purchasing an additional 1,072,443 shares during the period. Wellington Management Group LLP raised its stake in shares of Tanger by 29.9% in the third quarter. Wellington Management Group LLP now owns 3,953,555 shares of the real estate investment trust’s stock valued at $89,350,000 after buying an additional 909,622 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Tanger by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,868,188 shares of the real estate investment trust’s stock valued at $42,221,000 after buying an additional 31,910 shares during the last quarter. Invesco Ltd. grew its stake in shares of Tanger by 35.9% during the 3rd quarter. Invesco Ltd. now owns 723,109 shares of the real estate investment trust’s stock worth $16,342,000 after acquiring an additional 190,979 shares during the period. Finally, Knights of Columbus Asset Advisors LLC raised its stake in Tanger by 98.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 348,514 shares of the real estate investment trust’s stock valued at $9,661,000 after acquiring an additional 172,527 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Stock Performance

Tanger stock opened at $28.88 on Friday. Tanger Inc. has a 1-year low of $18.00 and a 1-year high of $29.98. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 2.43. The firm has a market capitalization of $3.15 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 3.65 and a beta of 1.83. The firm’s 50 day simple moving average is $28.46 and its 200 day simple moving average is $26.84.

Tanger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.81%. This is a boost from Tanger’s previous quarterly dividend of $0.26. Tanger’s dividend payout ratio is presently 113.04%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SKT shares. Evercore ISI increased their target price on shares of Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Citigroup raised shares of Tanger from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $33.00 in a report on Friday, March 22nd. Finally, Bank of America raised shares of Tanger from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $24.00 to $31.00 in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Tanger presently has an average rating of “Hold” and an average target price of $29.00.

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.