Values First Advisors Inc. Sells 9,161 Shares of Tanger Inc. (NYSE:SKT)

Values First Advisors Inc. reduced its stake in shares of Tanger Inc. (NYSE:SKT) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,138 shares of the real estate investment trust’s stock after selling 9,161 shares during the quarter. Values First Advisors Inc.’s holdings in Tanger were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in Tanger by 4.3% during the third quarter. Van ECK Associates Corp now owns 11,968 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 496 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of Tanger by 7.6% during the second quarter. Ameritas Investment Partners Inc. now owns 8,444 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 597 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Tanger by 6.0% in the third quarter. M&T Bank Corp now owns 10,623 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 602 shares in the last quarter. Gotham Asset Management LLC raised its holdings in shares of Tanger by 5.5% in the third quarter. Gotham Asset Management LLC now owns 11,768 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 609 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Tanger by 1.9% in the second quarter. Commonwealth Equity Services LLC now owns 34,682 shares of the real estate investment trust’s stock valued at $765,000 after acquiring an additional 655 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Stock Performance

NYSE:SKT traded down $0.02 during trading hours on Friday, reaching $29.53. The company had a trading volume of 854,707 shares, compared to its average volume of 752,915. Tanger Inc. has a 1-year low of $18.00 and a 1-year high of $29.98. The firm has a market cap of $3.22 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 4.31 and a beta of 1.83. The business’s 50 day moving average price is $28.21 and its 200-day moving average price is $26.09. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.19 and a quick ratio of 0.19.

Tanger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Tuesday, January 30th. Tanger’s payout ratio is presently 113.04%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SKT. Citigroup upgraded Tanger from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $33.00 in a report on Friday, March 22nd. Evercore ISI lifted their target price on Tanger from $28.00 to $29.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upgraded Tanger from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $27.00 to $29.00 in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.17.

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.