Tanger Inc. Stake Lowered by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. recently decreased its stake in Tanger Inc. (NYSE:SKT) by 4.1% during the first quarter, according to a recent filing with the Securities & Exchange Commission. The fund now owns 119,231 shares of the real estate investment trust’s stock, valued at $3,521,000. This move comes as a number of other hedge funds have also adjusted their positions in Tanger, with some increasing their holdings and others reducing them.

Wellington Management Group LLP, Charles Schwab Investment Management Inc., Waterfront Capital Partners LLC, Dimensional Fund Advisors LP, and GRS Advisors LLC are among the hedge funds that have made changes to their Tanger holdings. These adjustments come as Tanger’s stock performance has been closely watched by Wall Street analysts, with several issuing reports and ratings on the company.

Analysts have varied opinions on Tanger, with some upgrading the stock to a “buy” rating and others maintaining a “hold” rating. The company’s stock currently trades at $26.90 on the NYSE, with a market capitalization of $2.94 billion. Tanger’s fifty-two week low is $21.42 and its high is $29.98.

Tanger Inc. is a leading owner and operator of outlet and open-air retail shopping destinations, with a portfolio of 38 outlet centers and one open-air lifestyle center across the U.S. The company has over 43 years of experience in the retail and outlet shopping industries.

Overall, Tanger’s stock performance and analyst ratings continue to be closely monitored by investors and analysts alike. Stay tuned for more updates on Tanger and its position in the market.