Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Shares Sold by Nationwide Fund Advisors

Nationwide Fund Advisors decreased its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,302 shares of the real estate investment trust’s stock after selling 11,771 shares during the quarter. Nationwide Fund Advisors owned 0.18% of Tanger Factory Outlet Centers worth $4,398,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in Tanger Factory Outlet Centers by 5.1% in the first quarter. Wells Fargo & Company MN now owns 67,126 shares of the real estate investment trust’s stock valued at $2,200,000 after buying an additional 3,249 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Tanger Factory Outlet Centers by 22.1% during the first quarter. UBS Asset Management Americas Inc. now owns 195,481 shares of the real estate investment trust’s stock valued at $6,406,000 after purchasing an additional 35,371 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Tanger Factory Outlet Centers during the first quarter valued at about $407,000. JPMorgan Chase & Co. raised its stake in shares of Tanger Factory Outlet Centers by 32.8% during the first quarter. JPMorgan Chase & Co. now owns 316,268 shares of the real estate investment trust’s stock valued at $10,364,000 after purchasing an additional 78,038 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Tanger Factory Outlet Centers by 9.0% during the first quarter. Prudential Financial Inc. now owns 95,155 shares of the real estate investment trust’s stock valued at $3,118,000 after purchasing an additional 7,870 shares in the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $24.18, for a total value of $43,524.00. Following the completion of the sale, the senior vice president now directly owns 53,511 shares in the company, valued at $1,293,895.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas E. Mcdonough sold 10,734 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total transaction of $287,027.16. Following the completion of the sale, the chief operating officer now owns 180,551 shares of the company’s stock, valued at $4,827,933.74. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.

A number of equities analysts recently weighed in on the company. BidaskClub raised Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Saturday, July 15th. Boenning Scattergood set a $25.00 price target on Tanger Factory Outlet Centers and gave the company a “sell” rating in a report on Thursday, August 3rd. Bank of America Corporation lowered Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $28.00 to $25.50 in a report on Friday, June 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $26.00 price target on shares of Tanger Factory Outlet Centers in a report on Thursday, September 21st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $30.50.

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Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) opened at 24.92 on Tuesday. Tanger Factory Outlet Centers, Inc. has a 52-week low of $23.06 and a 52-week high of $37.34. The stock’s 50 day moving average price is $24.50 and its 200-day moving average price is $26.81. The company has a market capitalization of $2.37 billion, a PE ratio of 16.55 and a beta of 0.49.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The firm had revenue of $119.60 million for the quarter, compared to analysts’ expectations of $122.00 million. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. On average, analysts expect that Tanger Factory Outlet Centers, Inc. will post $0.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a $0.3425 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.37 annualized dividend and a dividend yield of 5.50%. Tanger Factory Outlet Centers’s payout ratio is presently 90.73%.

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.

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

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