Tanger Factory Outlet Centers (NYSE:SKT) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday, ValuEngine reports.
A number of other research analysts also recently issued reports on SKT. Zacks Investment Research raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Wednesday, September 18th. KeyCorp reduced their price objective on Tanger Factory Outlet Centers from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $17.80.
Shares of NYSE SKT opened at $14.26 on Friday. Tanger Factory Outlet Centers has a twelve month low of $13.61 and a twelve month high of $23.14. The firm has a market cap of $1.32 billion, a P/E ratio of 6.01 and a beta of 0.64. The company has a 50 day moving average of $15.23 and a 200 day moving average of $15.64. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 3.34.
Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.31). The business 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 revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. As a group, equities analysts expect that Tanger Factory Outlet Centers will post 2.23 earnings per share for the current fiscal year.
In other Tanger Factory Outlet Centers news, insider Stewart Martin 800,000 shares of Tanger Factory Outlet Centers stock in a transaction on Wednesday, October 30th. 2.30% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in SKT. Usca Ria LLC purchased a new stake in Tanger Factory Outlet Centers during the third quarter valued at $25,000. Capital Investment Advisory Services LLC bought a new stake in shares of Tanger Factory Outlet Centers during the 3rd quarter valued at about $51,000. AllSquare Wealth Management LLC bought a new stake in shares of Tanger Factory Outlet Centers during the 2nd quarter valued at about $75,000. Flagship Harbor Advisors LLC increased its position in shares of Tanger Factory Outlet Centers by 305.2% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 7,347 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 5,534 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Tanger Factory Outlet Centers during the 3rd quarter valued at about $160,000. Hedge funds and other institutional investors 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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