Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) had its target price boosted by research analysts at Evercore ISI to $17.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. Evercore ISI’s price target indicates a potential downside of 3.41% from the stock’s current price.
Separately, Compass Point decreased their price target on shares of Tanger Factory Outlet Centers from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd.
Tanger Factory Outlet Centers Trading Down 1.2 %
Shares of NYSE:SKT traded down $0.22 during mid-day trading on Monday, reaching $17.60. 552,986 shares of the company’s stock were exchanged, compared to its average volume of 991,083. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 45.13, a PEG ratio of 1.25 and a beta of 1.79. The business’s fifty day moving average price is $15.35 and its 200-day moving average price is $16.44. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.54 and a current ratio of 2.54. Tanger Factory Outlet Centers has a twelve month low of $13.77 and a twelve month high of $22.51.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last announced its earnings results on Monday, August 8th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.23). Tanger Factory Outlet Centers had a return on equity of 8.55% and a net margin of 9.75%. The firm had revenue of $105.84 million for the quarter, compared to the consensus estimate of $104.45 million. During the same period in the prior year, the business earned $0.43 EPS. Tanger Factory Outlet Centers’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts predict that Tanger Factory Outlet Centers will post 1.75 EPS for the current fiscal year.
Institutional Trading of Tanger Factory Outlet Centers
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A number of hedge funds and other institutional investors have recently bought and sold shares of SKT. Tompkins Financial Corp increased its holdings in shares of Tanger Factory Outlet Centers by 87.5% in the 1st quarter. Tompkins Financial Corp now owns 1,500 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 700 shares during the last quarter. Cyrus J. Lawrence LLC bought a new position in shares of Tanger Factory Outlet Centers in the 1st quarter worth $28,000. Lazard Asset Management LLC bought a new position in shares of Tanger Factory Outlet Centers in the 2nd quarter worth $26,000. Baldwin Brothers LLC MA bought a new position in shares of Tanger Factory Outlet Centers in the 1st quarter worth $34,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Tanger Factory Outlet Centers by 299.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,175 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 1,631 shares during the last quarter. Institutional investors own 82.24% 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.
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