Advisor Group Holdings Inc. cut its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,973 shares of the real estate investment trust’s stock after selling 7,994 shares during the period. Advisor Group Holdings Inc. owned 0.07% of Tanger Factory Outlet Centers worth $1,370,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of SKT. Cyrus J. Lawrence LLC acquired a new stake in Tanger Factory Outlet Centers during the first quarter worth approximately $28,000. Baldwin Brothers LLC MA bought a new position in shares of Tanger Factory Outlet Centers during the first quarter worth approximately $34,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Tanger Factory Outlet Centers by 299.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,175 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,631 shares during the period. Schroder Investment Management Group increased its holdings in shares of Tanger Factory Outlet Centers by 38.2% during the fourth quarter. Schroder Investment Management Group now owns 6,101 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,685 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Tanger Factory Outlet Centers by 1,326.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,189 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 6,685 shares during the period. 82.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. Compass Point lowered their target price on shares of Tanger Factory Outlet Centers from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Evercore ISI raised their target price on shares of Tanger Factory Outlet Centers to $17.00 in a report on Monday, August 15th.
Tanger Factory Outlet Centers Stock Performance
Shares of NYSE:SKT opened at $16.99 on Friday. The company’s 50 day simple moving average is $15.42 and its 200 day simple moving average is $16.46. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 43.57, a price-to-earnings-growth ratio of 1.21 and a beta of 1.79. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.54 and a quick ratio of 2.54. Tanger Factory Outlet Centers, Inc. has a 1 year low of $13.77 and a 1 year high of $22.51.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.23). The firm had revenue of $105.84 million during the quarter, compared to the consensus estimate of $104.45 million. Tanger Factory Outlet Centers had a net margin of 9.75% and a return on equity of 8.55%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. As a group, research analysts predict that Tanger Factory Outlet Centers, Inc. will post 1.75 EPS for the current fiscal year.
Tanger Factory Outlet Centers Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 29th were paid a $0.20 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.80 dividend on an annualized basis and a yield of 4.71%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 205.13%.
About Tanger Factory Outlet Centers
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.
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