Tanger Inc. $SKT Stock Position Increased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC raised its position in shares of Tanger Inc. (NYSE:SKT) by 80.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 515,000 shares of the real estate investment trust’s stock after purchasing an additional 230,000 shares during the period. Lighthouse Investment Partners LLC owned 0.45% of Tanger worth $17,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new stake in shares of Tanger during the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 531 shares in the last quarter. City Holding Co. bought a new position in Tanger in the 3rd quarter worth approximately $34,000. Neo Ivy Capital Management increased its position in Tanger by 346.3% in the 2nd quarter. Neo Ivy Capital Management now owns 1,312 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,018 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Tanger in the 2nd quarter valued at approximately $64,000. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Down 0.8%

Shares of SKT stock opened at $35.15 on Monday. Tanger Inc. has a 1 year low of $28.69 and a 1 year high of $37.95. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.40 and a current ratio of 0.40. The business’s fifty day moving average is $34.38 and its 200-day moving average is $33.80. The stock has a market cap of $4.02 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15.

Tanger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, January 30th. Tanger’s payout ratio is presently 117.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SKT. Citigroup reiterated a “neutral” rating and set a $35.00 price target (down from $38.00) on shares of Tanger in a research report on Wednesday, November 19th. LADENBURG THALM/SH SH raised Tanger to a “strong-buy” rating in a report on Thursday, November 20th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. Barclays upped their price objective on shares of Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, Compass Point lowered shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.88.

Tanger Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a real estate investment trust specializing in the ownership, development and management of outlet shopping centers. The company’s portfolio comprises more than 40 outlet properties anchored by leading fashion and lifestyle brands. Tanger’s centers are designed to offer off-price retail experiences in open-air, community-oriented settings, providing value-focused shoppers with access to premium brands at reduced prices.

Founded in 1981 by Stanley K.