Tanger Factory Outlet Centers Inc. (SKT) Holdings Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 34.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,160 shares of the real estate investment trust’s stock after buying an additional 2,107 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tanger Factory Outlet Centers were worth $216,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Advisor Group Inc. lifted its holdings in Tanger Factory Outlet Centers by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 303 shares in the last quarter. Capital Advisors Ltd. LLC acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter worth $134,000. Telemus Capital LLC acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter worth $244,000. Crossmark Global Holdings Inc. acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter worth $289,000. Finally, Schroder Investment Management Group bought a new stake in shares of Tanger Factory Outlet Centers in the 3rd quarter worth about $303,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) opened at $21.93 on Thursday. The firm has a market cap of $2,129.50, a PE ratio of 31.33, a PEG ratio of 2.96 and a beta of 0.44. Tanger Factory Outlet Centers Inc. has a 1 year low of $21.14 and a 1 year high of $34.76. The company has a debt-to-equity ratio of 2.88, a current ratio of 0.07 and a quick ratio of 0.10.

Tanger Factory Outlet Centers (NYSE:SKT) last released its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%. The company had revenue of $126.49 million during the quarter, compared to the consensus estimate of $122.67 million. equities research analysts forecast that Tanger Factory Outlet Centers Inc. will post 2.44 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.343 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date was Tuesday, January 30th. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. Tanger Factory Outlet Centers’s dividend payout ratio is currently 195.71%.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total transaction of $55,125.00. Following the completion of the sale, the chief marketing officer now owns 51,261 shares of the company’s stock, valued at approximately $1,255,894.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Thomas E. Mcdonough sold 11,276 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $22.55, for a total transaction of $254,273.80. Following the sale, the chief operating officer now directly owns 159,088 shares of the company’s stock, valued at approximately $3,587,434.40. The disclosure for this sale can be found here. 4.80% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on SKT. ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Jefferies Group reissued a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Citigroup dropped their target price on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Friday, November 10th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.60.

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Tanger Factory Outlet Centers Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Factory Outlet Centers Inc. (NYSE:SKT).

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

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