Diversified Trust Co. Acquires Shares of 19,977 Tanger Inc. $SKT

Diversified Trust Co. bought a new position in shares of Tanger Inc. (NYSE:SKT) during the fourth quarter, Holdings Channel.com reports. The fund bought 19,977 shares of the real estate investment trust’s stock, valued at approximately $667,000.

Several other institutional investors and hedge funds have also made changes to their positions in SKT. Salomon & Ludwin LLC acquired a new position in shares of Tanger in the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its position in Tanger by 127.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 948 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 531 shares during the last quarter. Advisory Services Network LLC purchased a new position in Tanger in the 3rd quarter valued at $33,000. City Holding Co. acquired a new position in Tanger in the 3rd quarter valued at $34,000. Finally, Quarry LP acquired a new position in Tanger in the 3rd quarter valued at $49,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Tanger Stock Performance

NYSE:SKT opened at $33.71 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.17. Tanger Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $37.95. The stock has a market cap of $3.86 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The firm’s fifty day simple moving average is $34.54 and its 200-day simple moving average is $33.84.

Tanger Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a dividend of $0.2925 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.17 dividend on an annualized basis and a yield of 3.5%. Tanger’s payout ratio is currently 117.00%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SKT. Compass Point cut shares of Tanger from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research note on Thursday, February 26th. Scotiabank boosted their price target on shares of Tanger from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Barclays increased their price target on shares of Tanger from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Bank of America restated a “neutral” rating and issued a $39.00 price objective on shares of Tanger in a research report on Friday, March 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Tanger in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.71.

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.