Vanguard Group Inc. increases its stake in Tanger Inc. stock.

During the fourth quarter Vanguard Group Inc. enhanced its Tanger Inc. (NYSE:SKT) investment stake through a 0.1% increase reported in the SEC Form 13F document. Vanguard added 20,423 shares to its Tanger portfolio which now consists of 17,318,302 shares representing 15.65% ownership of the real estate investment trust worth $591,074,000.

Hedge funds made adjustments to their Tanger investment portfolios throughout this period. Mutual of America Capital Management LLC purchased 319 additional shares which resulted in a 1.9% increase of its stake to 16,767 shares worth $572,000. Maryland State Retirement & Pension System purchased 349 shares increasing its ownership to 37,277 shares with a value of $1,272,000 while making a 0.9% increase. The company DAVENPORT & Co LLC raised its investment holdings through a 1.4% increase which led to acquiring 425 shares for a total of 31,462 shares valued at $1,074,000. GAMMA Investing LLC raised its investment in Tanger by 24.9% by acquiring 514 additional shares to reach a total of 2,578 shares valued at $88,000. Exchange Traded Concepts LLC expanded its stake through a 12.8% increase that resulted in acquiring 583 shares to hold 5,131 shares valued at $175,000. The ownership of Tanger’s stock rests with institutional investors who possess 85.23%.

The stock began trading at $33.82 when the market opened on Tuesday and it has fluctuated between $25.94 and $37.57 during the past 52 weeks. The 50-day moving average stands at $33.65 while the 200-day moving average reaches $34.06. Tanger operates with a $3.81 billion market capitalization along with 38.88 price-to-earnings and 2.97 price-to-earnings growth ratios and a beta of 1.88. Tanger disclosed $0.54 earnings per share during its February 19th report which exceeded analyst expectations by $0.02 while showing $132.17 million in revenue compared to the predicted $129.10 million.

The company distributed its quarterly dividend payment of $0.275 on February 14th which yields 3.25% annually while maintaining a payout ratio of 126.44%. The analysts at Tanger have assigned a “Moderate Buy” rating to the stock with an average price target of $36.63 through four hold and four buy recommendations from Deutsche Bank, Goldman Sachs, and BMO Capital.

COO Leslie Swanson Gallardo sold 12,500 shares on March 11th at $32.38 each which generated $404,750 and reduced her ownership to 113,158 shares valued at $3,664,056. Insiders own 5.80% of Tanger.