Mutual of America Capital Management LLC boosted its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 5.5% in the first quarter, Holdings Channel reports. The institutional investor owned 14,983 shares of the real estate investment trust’s stock after acquiring an additional 776 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Tanger Factory Outlet Centers were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Virginia Retirement Systems ET AL grew its stake in Tanger Factory Outlet Centers by 0.4% in the 1st quarter. Virginia Retirement Systems ET AL now owns 196,800 shares of the real estate investment trust’s stock valued at $3,383,000 after buying an additional 700 shares in the last quarter. Redmond Asset Management LLC grew its position in shares of Tanger Factory Outlet Centers by 0.7% during the 4th quarter. Redmond Asset Management LLC now owns 112,661 shares of the real estate investment trust’s stock valued at $2,172,000 after purchasing an additional 735 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of Tanger Factory Outlet Centers by 3.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 41,455 shares of the real estate investment trust’s stock valued at $799,000 after purchasing an additional 1,555 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Tanger Factory Outlet Centers by 299.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,175 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 1,631 shares in the last quarter. Finally, abrdn plc grew its position in shares of Tanger Factory Outlet Centers by 8.0% during the 4th quarter. abrdn plc now owns 21,983 shares of the real estate investment trust’s stock valued at $424,000 after purchasing an additional 1,634 shares in the last quarter. 82.24% of the stock is currently owned by hedge funds and other institutional investors.
Tanger Factory Outlet Centers Stock Down 0.1 %
SKT opened at $16.26 on Tuesday. The company has a fifty day moving average price of $15.48 and a 200-day moving average price of $16.54. The firm has a market capitalization of $1.70 billion, a P/E ratio of 73.91, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79. 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 one year low of $13.77 and a one year high of $22.51.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $101.62 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date is Thursday, July 28th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 363.65%.
Analyst Ratings Changes
Separately, Compass Point reduced 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 report on Wednesday, June 22nd.
Insider Transactions at Tanger Factory Outlet Centers
In other news, Director Thomas Reddin sold 10,000 shares of Tanger Factory Outlet Centers stock in a transaction on Monday, May 16th. The shares were 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 of the company’s stock, valued at approximately $821,772. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is currently owned by insiders.
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.
Further Reading
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