Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.75.
A number of analysts recently issued reports on the company. Compass Point upgraded Tanger Factory Outlet Centers from a “neutral” rating to a “buy” rating in a report on Wednesday, November 3rd. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 2nd.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Tanger Factory Outlet Centers by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,215,122 shares of the real estate investment trust’s stock valued at $305,655,000 after purchasing an additional 872,715 shares in the last quarter. State Street Corp boosted its holdings in shares of Tanger Factory Outlet Centers by 6.8% in the 2nd quarter. State Street Corp now owns 5,116,447 shares of the real estate investment trust’s stock valued at $96,445,000 after buying an additional 324,317 shares during the last quarter. Moors & Cabot Inc. bought a new stake in Tanger Factory Outlet Centers in the 3rd quarter valued at $4,238,000. LSV Asset Management increased its position in Tanger Factory Outlet Centers by 17.2% during the 3rd quarter. LSV Asset Management now owns 2,380,452 shares of the real estate investment trust’s stock worth $38,801,000 after buying an additional 349,695 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Tanger Factory Outlet Centers by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,997,992 shares of the real estate investment trust’s stock worth $32,567,000 after purchasing an additional 68,279 shares in the last quarter. Institutional investors and hedge funds own 82.50% of the company’s stock.
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NYSE:SKT opened at $16.90 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 2.94. The business’s 50-day simple moving average is $18.60 and its two-hundred day simple moving average is $18.19. The stock has a market cap of $1.76 billion, a PE ratio of -337.93, a P/E/G ratio of 2.50 and a beta of 1.88. Tanger Factory Outlet Centers has a 52 week low of $13.92 and a 52 week high of $22.51.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Monday, January 31st will be paid a dividend of $0.183 per share. The ex-dividend date of this dividend is Friday, January 28th. This represents a $0.73 annualized dividend and a yield of 4.33%. Tanger Factory Outlet Centers’s payout ratio is -1,459.71%.
About Tanger Factory Outlet Centers
Tanger Factory Outlet Centers, Inc is a fully-integrated, self-administered and self-managed real estate investment trust. It focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.
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