Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Stock Rating Upgraded by Boenning Scattergood

Boenning Scattergood upgraded shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) from an under perform rating to a neutral rating in a research report report published on Friday, November 3rd, MarketBeat.com reports.

A number of other research analysts also recently issued reports on SKT. BidaskClub raised Tanger Factory Outlet Centers from a sell rating to a hold rating in a report on Friday, August 4th. KeyCorp reissued a hold rating on shares of Tanger Factory Outlet Centers in a report on Friday, August 25th. Jefferies Group LLC reissued a hold rating and issued a $26.00 price target on shares of Tanger Factory Outlet Centers in a report on Thursday, September 21st. Finally, Zacks Investment Research raised Tanger Factory Outlet Centers from a sell rating to a hold rating in a report on Saturday, July 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Tanger Factory Outlet Centers currently has an average rating of Hold and an average price target of $27.00.

Tanger Factory Outlet Centers (NYSE:SKT) traded up $0.26 during trading on Friday, hitting $24.40. The company had a trading volume of 1,162,700 shares, compared to its average volume of 1,583,889. Tanger Factory Outlet Centers has a 12-month low of $21.81 and a 12-month high of $37.34. The firm has a market capitalization of $2,310.00, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 3.27 and a beta of 0.47. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10.

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The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were paid a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a dividend yield of 5.61%. The ex-dividend date was Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 220.97%.

Several hedge funds have recently made changes to their positions in SKT. RMR Advisors LLC acquired a new position in shares of Tanger Factory Outlet Centers during the 2nd quarter worth approximately $114,000. Advisor Group Inc. raised its stake in shares of Tanger Factory Outlet Centers by 6.5% during 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 during the period. Salem Investment Counselors Inc. raised its stake in shares of Tanger Factory Outlet Centers by 164.2% during the 2nd quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 3,045 shares during the period. Capital Advisors Ltd. LLC acquired a new position in shares of Tanger Factory Outlet Centers during the 3rd quarter worth approximately $134,000. Finally, LS Investment Advisors LLC raised its stake in shares of Tanger Factory Outlet Centers by 19.9% during the 2nd quarter. LS Investment Advisors LLC now owns 7,629 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 1,266 shares during the period. 97.47% of the stock is owned by institutional investors and hedge funds.

About Tanger Factory Outlet Centers

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.

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

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