Creative Planning Trims Holdings in Tanger Factory Outlet Centers Inc. (NYSE:SKT)

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Creative Planning lessened its holdings in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,139 shares of the real estate investment trust’s stock after selling 1,858 shares during the period. Creative Planning’s holdings in Tanger Factory Outlet Centers were worth $223,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SKT. Usca Ria LLC purchased a new position in Tanger Factory Outlet Centers during the 3rd quarter valued at about $25,000. Capital Investment Advisory Services LLC purchased a new position in Tanger Factory Outlet Centers during the 3rd quarter valued at about $51,000. Valeo Financial Advisors LLC increased its holdings in Tanger Factory Outlet Centers by 109.7% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,291 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 2,245 shares during the period. CWM LLC purchased a new position in Tanger Factory Outlet Centers during the 4th quarter valued at about $71,000. Finally, Flagship Harbor Advisors LLC increased its holdings in Tanger Factory Outlet Centers by 305.2% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 7,347 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 5,534 shares during the period.

SKT stock opened at $13.01 on Friday. Tanger Factory Outlet Centers Inc. has a fifty-two week low of $13.01 and a fifty-two week high of $22.08. The business’s 50 day moving average price is $14.87 and its two-hundred day moving average price is $15.36. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 13.99 and a beta of 0.69.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Monday, January 27th. The real estate investment trust reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.69). Tanger Factory Outlet Centers had a return on equity of 17.27% and a net margin of 18.28%. The firm had revenue of $120.50 million for the quarter, compared to analysts’ expectations of $117.25 million. During the same quarter last year, the company posted $0.64 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. Sell-side analysts forecast that Tanger Factory Outlet Centers Inc. will post 2.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.3575 per share. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, April 29th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 10.99%. Tanger Factory Outlet Centers’s dividend payout ratio is 62.56%.

A number of research analysts recently issued reports on the company. ValuEngine upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, KeyCorp reduced their price target on Tanger Factory Outlet Centers from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Tanger Factory Outlet Centers has an average rating of “Hold” and an average target price of $17.60.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.

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Institutional Ownership by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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