Diversified Trust Co grew its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,503 shares of the real estate investment trust’s stock after purchasing an additional 1,755 shares during the period. Diversified Trust Co’s holdings in Tanger Factory Outlet Centers were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in shares of Tanger Factory Outlet Centers during the first quarter worth about $8,795,000. Values First Advisors Inc. bought a new stake in shares of Tanger Factory Outlet Centers during the fourth quarter worth about $1,977,000. Barclays PLC grew its position in Tanger Factory Outlet Centers by 119.4% in the 4th quarter. Barclays PLC now owns 203,585 shares of the real estate investment trust’s stock worth $3,924,000 after purchasing an additional 110,804 shares in the last quarter. Squarepoint Ops LLC grew its position in Tanger Factory Outlet Centers by 126.0% in the 4th quarter. Squarepoint Ops LLC now owns 116,028 shares of the real estate investment trust’s stock worth $2,237,000 after purchasing an additional 64,694 shares in the last quarter. Finally, Corton Capital Inc. bought a new stake in Tanger Factory Outlet Centers in the 4th quarter worth about $211,000. 82.24% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on SKT shares. Compass Point reduced their price objective on shares of Tanger Factory Outlet Centers from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com started coverage on shares of Tanger Factory Outlet Centers in a research report on Thursday, March 31st. They issued a “hold” rating for the company.
SKT opened at $14.85 on Friday. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 2.74. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 67.50, a PEG ratio of 0.98 and a beta of 1.76. Tanger Factory Outlet Centers, Inc. has a twelve month low of $13.77 and a twelve month high of $22.51. The company’s 50-day moving average price is $16.60 and its two-hundred day moving average price is $17.36.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last released its earnings results on Thursday, May 5th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The company had revenue of $108.87 million during 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 firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Tanger Factory Outlet Centers, Inc. will post 1.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.39%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, April 28th. Tanger Factory Outlet Centers’s payout ratio is presently 363.65%.
In other Tanger Factory Outlet Centers news, Director Thomas Reddin sold 10,000 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $18.00, for a total value of $180,000.00. Following the transaction, the director now directly owns 45,654 shares in the company, valued at $821,772. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by insiders.
Tanger Factory Outlet Centers Company Profile (Get Rating)
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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