Stephens Inc. AR bought a new position in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the real estate investment trust’s stock, valued at approximately $172,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SKT. Janney Montgomery Scott LLC purchased a new position in Tanger Factory Outlet Centers during the fourth quarter worth about $200,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Tanger Factory Outlet Centers in the 4th quarter worth about $1,665,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Tanger Factory Outlet Centers in the 4th quarter worth about $2,580,000. Yousif Capital Management LLC purchased a new position in shares of Tanger Factory Outlet Centers in the 4th quarter worth about $1,839,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Tanger Factory Outlet Centers in the 4th quarter worth about $987,000. 82.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Compass Point cut their price objective on Tanger Factory Outlet Centers from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, June 22nd.
Tanger Factory Outlet Centers Price Performance
SKT opened at $15.96 on Friday. The stock has a 50-day moving average price of $15.38 and a 200-day moving average price of $16.47. Tanger Factory Outlet Centers, Inc. has a 12-month low of $13.77 and a 12-month high of $22.51. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 2.74. The stock has a market capitalization of $1.67 billion, a P/E ratio of 72.55, a PEG ratio of 1.11 and a beta of 1.79.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last issued its earnings results on Thursday, May 5th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.21). The company had revenue of $108.87 million for the quarter, compared to analysts’ expectations of $101.62 million. Tanger Factory Outlet Centers had a net margin of 5.84% and a return on equity of 5.04%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Equities analysts predict that Tanger Factory Outlet Centers, Inc. will post 1.75 earnings per share for the current fiscal year.
Tanger Factory Outlet Centers Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.01%. The ex-dividend date is Thursday, July 28th. Tanger Factory Outlet Centers’s dividend payout ratio is presently 363.65%.
Insider Activity at Tanger Factory Outlet Centers
In related news, Director Thomas Reddin sold 10,000 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $18.00, for a total transaction of $180,000.00. Following the completion of the sale, the director now directly owns 45,654 shares in the company, valued at approximately $821,772. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.
Tanger Factory Outlet Centers Company Profile
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger’s operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.
Further Reading
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