Tanger Inc. $SKT Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in shares of Tanger Inc. (NYSE:SKT) by 68.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 109,489 shares of the real estate investment trust’s stock after purchasing an additional 44,374 shares during the period. Allianz Asset Management GmbH’s holdings in Tanger were worth $3,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in Tanger by 3.4% during the 2nd quarter. State Street Corp now owns 6,635,830 shares of the real estate investment trust’s stock worth $202,924,000 after buying an additional 215,174 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tanger by 2.4% during the second quarter. Geode Capital Management LLC now owns 2,841,121 shares of the real estate investment trust’s stock worth $86,892,000 after acquiring an additional 65,599 shares during the period. Invesco Ltd. raised its holdings in Tanger by 127.0% during the second quarter. Invesco Ltd. now owns 2,036,716 shares of the real estate investment trust’s stock worth $62,283,000 after purchasing an additional 1,139,288 shares in the last quarter. GRS Advisors LLC lifted its position in Tanger by 98.9% in the second quarter. GRS Advisors LLC now owns 1,889,097 shares of the real estate investment trust’s stock valued at $57,769,000 after purchasing an additional 939,424 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in Tanger by 6.6% in the second quarter. Qube Research & Technologies Ltd now owns 1,007,663 shares of the real estate investment trust’s stock valued at $30,814,000 after purchasing an additional 62,070 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SKT. Evercore boosted their target price on Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a research note on Wednesday, January 21st. Barclays reiterated a “positive” rating and issued a $36.00 price objective on shares of Tanger in a research report on Tuesday, January 13th. Citigroup reissued a “neutral” rating and issued a $35.00 target price (down previously from $38.00) on shares of Tanger in a report on Wednesday, November 19th. Finally, LADENBURG THALM/SH SH raised shares of Tanger to a “strong-buy” rating in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Tanger Price Performance

Shares of NYSE SKT opened at $34.16 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.20. The company’s 50-day moving average price is $33.39 and its 200 day moving average price is $33.22. Tanger Inc. has a 52 week low of $28.69 and a 52 week high of $36.76. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 1.48 and a beta of 1.18.

Tanger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, January 30th. Tanger’s dividend payout ratio (DPR) is 124.47%.

Tanger 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.