Los Angeles Capital Management LLC Has $885,000 Stock Position in Tanger Inc. (NYSE:SKT)

Los Angeles Capital Management LLC lifted its position in shares of Tanger Inc. (NYSE:SKT) by 61.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 26,683 shares of the real estate investment trust’s stock after purchasing an additional 10,110 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Tanger were worth $885,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank boosted its stake in Tanger by 2.5% during the first quarter. Swiss National Bank now owns 212,500 shares of the real estate investment trust’s stock worth $6,275,000 after buying an additional 5,200 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Tanger by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 21,166 shares of the real estate investment trust’s stock worth $625,000 after acquiring an additional 1,905 shares during the period. SageView Advisory Group LLC acquired a new stake in shares of Tanger during the 1st quarter valued at about $145,000. Vanguard Group Inc. increased its stake in Tanger by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,456,758 shares of the real estate investment trust’s stock valued at $515,498,000 after acquiring an additional 608,547 shares during the period. Finally, UniSuper Management Pty Ltd raised its position in Tanger by 84.0% in the first quarter. UniSuper Management Pty Ltd now owns 53,369 shares of the real estate investment trust’s stock worth $1,576,000 after purchasing an additional 24,369 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Tanger Stock Up 0.4 %

NYSE SKT opened at $35.86 on Friday. The stock has a market capitalization of $3.97 billion, a P/E ratio of 41.70, a price-to-earnings-growth ratio of 2.80 and a beta of 1.88. Tanger Inc. has a 52 week low of $24.72 and a 52 week high of $36.46. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a fifty day moving average of $33.40 and a 200-day moving average of $29.79.

Tanger (NYSE:SKT) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.31). The firm had revenue of $133.00 million for the quarter, compared to the consensus estimate of $125.80 million. Tanger had a return on equity of 16.25% and a net margin of 18.55%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. On average, equities research analysts forecast that Tanger Inc. will post 2.1 EPS for the current year.

Tanger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Thursday, October 31st. Tanger’s payout ratio is 127.91%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SKT. Evercore ISI upped their price objective on Tanger from $31.00 to $33.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Citigroup upped their price target on Tanger from $34.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday. Compass Point lifted their price objective on Tanger from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, October 25th. The Goldman Sachs Group upped their target price on shares of Tanger from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Bank of America raised shares of Tanger from a “neutral” rating to a “buy” rating and lifted their price target for the company from $35.00 to $40.00 in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.86.

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.