Public Sector Pension Investment Board Has $14.94 Million Holdings in Tanger Inc. $SKT

Public Sector Pension Investment Board boosted its position in shares of Tanger Inc. (NYSE:SKT) by 14.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 441,466 shares of the real estate investment trust’s stock after purchasing an additional 55,677 shares during the period. Public Sector Pension Investment Board owned about 0.39% of Tanger worth $14,939,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of Tanger by 3.4% during the second 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 period. Geode Capital Management LLC lifted its stake in Tanger by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,841,121 shares of the real estate investment trust’s stock valued at $86,892,000 after acquiring an additional 65,599 shares in the last quarter. Invesco Ltd. boosted its position in Tanger by 127.0% during the 2nd quarter. Invesco Ltd. now owns 2,036,716 shares of the real estate investment trust’s stock worth $62,283,000 after acquiring an additional 1,139,288 shares during the last quarter. GRS Advisors LLC grew its stake in shares of Tanger by 98.9% during the 2nd quarter. GRS Advisors LLC now owns 1,889,097 shares of the real estate investment trust’s stock worth $57,769,000 after acquiring an additional 939,424 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of 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 last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Scotiabank increased their target price on shares of Tanger from $33.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Barclays reissued a “positive” rating and set a $36.00 price target on shares of Tanger in a research report on Tuesday, January 13th. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Wednesday, January 21st. Citigroup reiterated a “neutral” rating and set 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 Tanger to a “strong-buy” rating in a research report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Tanger has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Tanger Stock Up 0.7%

Shares of SKT stock opened at $33.86 on Friday. 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 $3.90 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 1.49 and a beta of 1.18. The firm’s 50-day moving average is $33.47 and its 200-day moving average is $33.26. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.51 and a current ratio of 0.51.

Tanger Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, January 30th. Tanger’s dividend payout ratio is 124.47%.

About Tanger

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.