Tanger Factory Outlet Centers Inc. (SKT) Position Reduced by Private Advisor Group LLC

Private Advisor Group LLC lessened its position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 65.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,964 shares of the real estate investment trust’s stock after selling 68,724 shares during the quarter. Private Advisor Group LLC’s holdings in Tanger Factory Outlet Centers were worth $937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SKT. Advisor Group Inc. raised 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 acquiring an additional 303 shares during the period. Capital Advisors Ltd. LLC bought a new position in Tanger Factory Outlet Centers in the 3rd quarter worth $134,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tanger Factory Outlet Centers by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 2,107 shares during the period. Telemus Capital LLC bought a new position in Tanger Factory Outlet Centers in the 3rd quarter worth $244,000. Finally, Crossmark Global Holdings Inc. bought a new position in Tanger Factory Outlet Centers in the 3rd quarter worth $289,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Tanger Factory Outlet Centers Inc. (NYSE:SKT) opened at $22.52 on Wednesday. Tanger Factory Outlet Centers Inc. has a twelve month low of $21.14 and a twelve month high of $34.76. The company has a current ratio of 0.07, a quick ratio of 0.10 and a debt-to-equity ratio of 2.88. The stock has a market cap of $2,130.00, a PE ratio of 32.17, a PEG ratio of 2.96 and a beta of 0.44.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the 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 for 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 year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were issued a dividend of $0.343 per share. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, January 30th. This represents a $1.37 annualized dividend and a dividend yield of 6.09%. Tanger Factory Outlet Centers’s payout ratio is presently 195.71%.

In other news, CMO Carrie A. Geldner sold 2,250 shares of Tanger Factory Outlet Centers 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 sale, the chief marketing officer now directly owns 51,261 shares in the company, valued at approximately $1,255,894.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas E. Mcdonough sold 11,276 shares of Tanger Factory Outlet Centers 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 owns 159,088 shares in the company, valued at $3,587,434.40. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Several brokerages recently commented on SKT. Boenning Scattergood reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, February 15th. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Evercore ISI downgraded shares of Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a report on Thursday, February 15th. Bank of America upgraded shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Finally, Citigroup dropped their price objective on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a report on Friday, November 10th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price 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.

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

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