Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $17.80.
A number of research firms have issued reports on SKT. KeyCorp cut their target price on Tanger Factory Outlet Centers from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 17th. ValuEngine upgraded shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday, September 18th.
SKT stock opened at $15.01 on Friday. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 6.05 and a beta of 0.64. Tanger Factory Outlet Centers has a 1 year low of $13.61 and a 1 year high of $23.14. The stock’s fifty day moving average is $15.43 and its two-hundred day moving average is $15.70.
Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.31). The company had revenue of $118.99 million during the quarter, compared to the consensus estimate of $117.49 million. Tanger Factory Outlet Centers had a net margin of 24.51% and a return on equity of 23.49%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. As a group, analysts predict that Tanger Factory Outlet Centers will post 2.23 EPS for the current fiscal year.
In other Tanger Factory Outlet Centers news, insider Stewart Martin 800,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. 2.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Usca Ria LLC bought a new stake in shares of Tanger Factory Outlet Centers during the third quarter valued at about $25,000. Capital Investment Advisory Services LLC acquired a new position in Tanger Factory Outlet Centers during the third quarter worth about $51,000. AllSquare Wealth Management LLC acquired a new position in Tanger Factory Outlet Centers during the second quarter worth about $75,000. Flagship Harbor Advisors LLC grew its holdings in Tanger Factory Outlet Centers by 305.2% during the third quarter. Flagship Harbor Advisors LLC now owns 7,347 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 5,534 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new position in Tanger Factory Outlet Centers during the third quarter worth about $160,000. Institutional investors and hedge funds own 98.09% of the company’s stock.
Tanger Factory Outlet Centers Company Profile
Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 40 upscale outlet shopping centers. Tanger’s operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.
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