DAVENPORT & Co LLC raised its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 28.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,450 shares of the real estate investment trust’s stock after purchasing an additional 6,100 shares during the quarter. DAVENPORT & Co LLC’s holdings in Tanger Factory Outlet Centers were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in SKT. New York State Teachers Retirement System boosted its holdings in Tanger Factory Outlet Centers by 1.1% in the 4th quarter. New York State Teachers Retirement System now owns 159,823 shares of the real estate investment trust’s stock valued at $3,081,000 after purchasing an additional 1,700 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Tanger Factory Outlet Centers by 66.9% during the 4th quarter. Van ECK Associates Corp now owns 7,962 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 3,192 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter worth approximately $200,000. Everence Capital Management Inc. boosted its stake in shares of Tanger Factory Outlet Centers by 57.0% during the 4th quarter. Everence Capital Management Inc. now owns 30,380 shares of the real estate investment trust’s stock worth $586,000 after acquiring an additional 11,030 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter worth approximately $1,665,000. Hedge funds and other institutional investors own 82.24% of the company’s stock.
Tanger Factory Outlet Centers Trading Up 0.6 %
Shares of Tanger Factory Outlet Centers stock opened at $15.70 on Tuesday. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.63 and a quick ratio of 2.63. Tanger Factory Outlet Centers, Inc. has a 1 year low of $13.77 and a 1 year high of $22.51. The company has a market capitalization of $1.64 billion, a P/E ratio of 71.37, a P/E/G ratio of 1.09 and a beta of 1.78. The business has a 50 day moving average price of $15.62 and a 200 day moving average price of $16.67.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.21). Tanger Factory Outlet Centers had a return on equity of 5.04% and a net margin of 5.84%. The company had revenue of $108.87 million for the quarter, compared to analyst estimates of $101.62 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that Tanger Factory Outlet Centers, Inc. will post 1.75 EPS for the current fiscal year.
Tanger Factory Outlet Centers Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, July 28th. This represents a $0.80 annualized dividend and a dividend yield of 5.10%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 363.65%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. StockNews.com assumed coverage on Tanger Factory Outlet Centers in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Compass Point decreased their price target on Tanger Factory Outlet Centers from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd.
Insider Buying and Selling
In other Tanger Factory Outlet Centers news, Director Thomas Reddin sold 10,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $18.00, for a total value of $180,000.00. Following the completion of the transaction, the director now directly owns 45,654 shares in the company, valued at approximately $821,772. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.80% of the company’s stock.
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.
Featured Stories
Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating).
Receive News & Ratings for Tanger Factory Outlet Centers Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com’s FREE daily email newsletter.
