Values First Advisors Inc. Buys 883 Shares of Tanger Inc. (NYSE:SKT)

Values First Advisors Inc. grew its stake in Tanger Inc. (NYSE:SKT) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,596 shares of the real estate investment trust’s stock after buying an additional 883 shares during the period. Values First Advisors Inc.’s holdings in Tanger were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SKT. Legato Capital Management LLC raised its stake in Tanger by 8.0% during the fourth quarter. Legato Capital Management LLC now owns 50,544 shares of the real estate investment trust’s stock worth $1,725,000 after buying an additional 3,748 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Tanger by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the real estate investment trust’s stock worth $1,826,000 after acquiring an additional 600 shares in the last quarter. Washburn Capital Management Inc. acquired a new position in shares of Tanger in the 4th quarter valued at about $221,000. Entropy Technologies LP lifted its stake in shares of Tanger by 181.3% in the 4th quarter. Entropy Technologies LP now owns 17,966 shares of the real estate investment trust’s stock valued at $613,000 after purchasing an additional 11,580 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Tanger by 74.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 206,704 shares of the real estate investment trust’s stock valued at $7,055,000 after purchasing an additional 88,106 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Insider Activity

In other Tanger news, CAO Thomas Joseph Guerrieri, Jr. sold 3,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $36.27, for a total value of $108,810.00. Following the completion of the sale, the chief accounting officer now owns 59,641 shares in the company, valued at approximately $2,163,179.07. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SKT. Compass Point boosted their price target on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Citigroup boosted their target price on shares of Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Tanger in a research note on Tuesday, December 17th. They set a “hold” rating and a $37.00 target price on the stock. BMO Capital Markets began coverage on shares of Tanger in a research note on Tuesday, January 28th. They issued a “market perform” rating and a $36.00 price target for the company. Finally, Evercore ISI increased their price objective on shares of Tanger from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.00.

Tanger Stock Up 0.3 %

Tanger stock opened at $33.23 on Wednesday. Tanger Inc. has a 1-year low of $25.94 and a 1-year high of $37.57. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 2.82 and a beta of 1.91. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 2.40. The firm’s fifty day moving average price is $33.97 and its two-hundred day moving average price is $32.94.

Tanger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, January 31st. Tanger’s dividend payout ratio (DPR) is presently 127.91%.

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.