Monument Capital Management Trims Stock Position in Tanger Inc. (NYSE:SKT)

Monument Capital Management lowered its position in shares of Tanger Inc. (NYSE:SKT) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,885 shares of the real estate investment trust’s stock after selling 1,022 shares during the period. Monument Capital Management’s holdings in Tanger were worth $440,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in Tanger by 33.1% during the third quarter. FMR LLC now owns 4,315,625 shares of the real estate investment trust’s stock valued at $97,533,000 after acquiring an additional 1,072,443 shares in the last quarter. Wellington Management Group LLP grew its stake in Tanger by 29.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,953,555 shares of the real estate investment trust’s stock worth $89,350,000 after buying an additional 909,622 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tanger by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,868,188 shares of the real estate investment trust’s stock worth $42,221,000 after buying an additional 31,910 shares in the last quarter. Invesco Ltd. grew its stake in Tanger by 35.9% in the 3rd quarter. Invesco Ltd. now owns 723,109 shares of the real estate investment trust’s stock worth $16,342,000 after buying an additional 190,979 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew 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 worth $9,661,000 after buying an additional 172,527 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Tanger Trading Up 3.9 %

Shares of SKT opened at $27.72 on Tuesday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 3.37 and a beta of 1.83. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.19 and a current ratio of 0.19. Tanger Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $29.98. The firm has a 50 day moving average price of $28.35 and a 200-day moving average price of $26.67.

Tanger Increases Dividend

The firm also recently disclosed 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.97%. This is a positive change from Tanger’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, April 29th. Tanger’s payout ratio is presently 113.04%.

Analyst Ratings Changes

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

Tanger Company Profile

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.