State of Alaska Department of Revenue reduced its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 0.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 124,619 shares of the real estate investment trust’s stock after selling 1,065 shares during the period. State of Alaska Department of Revenue’s holdings in Tanger Factory Outlet Centers were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Redmond Asset Management LLC raised its holdings in Tanger Factory Outlet Centers by 0.7% in the 4th quarter. Redmond Asset Management LLC now owns 112,661 shares of the real estate investment trust’s stock worth $2,172,000 after purchasing an additional 735 shares during the period. California State Teachers Retirement System raised its holdings in Tanger Factory Outlet Centers by 0.8% in the 3rd quarter. California State Teachers Retirement System now owns 137,796 shares of the real estate investment trust’s stock worth $2,246,000 after purchasing an additional 1,051 shares during the period. Diversified Trust Co raised its holdings in Tanger Factory Outlet Centers by 7.8% in the 4th quarter. Diversified Trust Co now owns 18,748 shares of the real estate investment trust’s stock worth $361,000 after purchasing an additional 1,353 shares during the period. Maryland State Retirement & Pension System raised its holdings in Tanger Factory Outlet Centers by 3.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 41,455 shares of the real estate investment trust’s stock worth $799,000 after purchasing an additional 1,555 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Tanger Factory Outlet Centers by 2.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 84,029 shares of the real estate investment trust’s stock worth $1,370,000 after purchasing an additional 1,622 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.
A number of equities analysts recently commented on SKT shares. StockNews.com started coverage on Tanger Factory Outlet Centers in a report on Thursday, March 31st. They issued 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 report on Wednesday, June 22nd.
In other news, Director Thomas Reddin sold 10,000 shares of Tanger Factory Outlet Centers stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $18.00, for a total value of $180,000.00. Following the sale, the director now directly owns 45,654 shares of the company’s stock, valued at $821,772. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.80% of the company’s stock.
NYSE:SKT opened at $14.46 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 business’s 50-day simple moving average is $16.30 and its two-hundred day simple moving average is $17.17. The stock has a market cap of $1.51 billion, a PE ratio of 65.73, a P/E/G ratio of 1.04 and a beta of 1.76. Tanger Factory Outlet Centers, Inc. has a 52 week low of $13.77 and a 52 week high of $22.51.
Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) last issued its earnings results 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 firm had revenue of $108.87 million during the quarter, compared to the consensus estimate of $101.62 million. During the same period last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that Tanger Factory Outlet Centers, Inc. will post 1.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.53%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, April 28th. Tanger Factory Outlet Centers’s payout ratio is 363.65%.
About Tanger Factory Outlet Centers (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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