Beck Bode LLC Acquires Shares of 67,540 Tanger Inc. (NYSE:SKT)

Beck Bode LLC acquired a new stake in Tanger Inc. (NYSE:SKT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 67,540 shares of the real estate investment trust’s stock, valued at approximately $1,872,000. Beck Bode LLC owned 0.06% of Tanger at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SKT. Handelsbanken Fonder AB lifted its position in shares of Tanger by 17.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 22,653 shares of the real estate investment trust’s stock valued at $512,000 after buying an additional 3,442 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Tanger by 29.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 44,802 shares of the real estate investment trust’s stock worth $1,013,000 after purchasing an additional 10,120 shares in the last quarter. Monument Capital Management purchased a new stake in shares of Tanger in the 3rd quarter valued at about $382,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tanger by 7.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,271 shares of the real estate investment trust’s stock valued at $955,000 after acquiring an additional 3,017 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Tanger by 30.2% in the 3rd quarter. Assetmark Inc. now owns 16,561 shares of the real estate investment trust’s stock valued at $374,000 after acquiring an additional 3,844 shares in the last quarter. Institutional investors own 85.23% of the company’s stock.

Tanger Stock Down 0.9 %

Shares of Tanger stock traded down $0.26 on Tuesday, reaching $28.35. The company’s stock had a trading volume of 891,940 shares, compared to its average volume of 768,750. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 3.65 and a beta of 1.83. The firm’s fifty day simple moving average is $28.46 and its two-hundred day simple moving average is $26.90. Tanger Inc. has a 52 week low of $18.34 and a 52 week high of $29.98. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 2.43.

Tanger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.275 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.88%. This is a positive change from Tanger’s previous quarterly dividend of $0.26. Tanger’s payout ratio is presently 113.04%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SKT shares. Bank of America upgraded Tanger from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $24.00 to $31.00 in a research report on Friday, April 5th. Evercore ISI increased their price objective on Tanger from $28.00 to $29.00 and gave the stock an “in-line” rating in a report on Wednesday, February 28th. Finally, Citigroup upgraded Tanger from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $33.00 in a report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.