Tanger Factory Outlet Centers Inc. (NYSE:SKT) VP Lisa J. Morrison sold 4,500 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $33.89, for a total value of $152,505.00. Following the transaction, the vice president now owns 34,404 shares of the company’s stock, valued at $1,165,951.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tanger Factory Outlet Centers Inc. (NYSE:SKT) opened at 34.50 on Friday. The company’s 50 day moving average price is $36.48 and its 200 day moving average price is $38.07. The stock has a market cap of $3.28 billion, a PE ratio of 12.00 and a beta of 0.42. Tanger Factory Outlet Centers Inc. has a 12 month low of $29.46 and a 12 month high of $42.20.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The business earned $119.10 million during the quarter, compared to analyst estimates of $114.41 million. Tanger Factory Outlet Centers had a return on equity of 42.50% and a net margin of 60.55%. Tanger Factory Outlet Centers’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 EPS. Equities analysts forecast that Tanger Factory Outlet Centers Inc. will post $2.36 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, October 27th. Tanger Factory Outlet Centers’s payout ratio is 44.98%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC raised its position in Tanger Factory Outlet Centers by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 16,408 shares of the real estate investment trust’s stock worth $659,000 after buying an additional 54 shares during the last quarter. FineMark National Bank & Trust raised its position in Tanger Factory Outlet Centers by 1.9% in the second quarter. FineMark National Bank & Trust now owns 5,240 shares of the real estate investment trust’s stock worth $211,000 after buying an additional 100 shares during the last quarter. Advisor Group Inc. raised its position in Tanger Factory Outlet Centers by 2.3% in the third quarter. Advisor Group Inc. now owns 4,669 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 107 shares during the last quarter. Capstone Asset Management Co. raised its position in Tanger Factory Outlet Centers by 2.1% in the third quarter. Capstone Asset Management Co. now owns 7,381 shares of the real estate investment trust’s stock worth $288,000 after buying an additional 150 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in shares of Tanger Factory Outlet Centers by 1.3% in the third quarter. First Citizens Bank & Trust Co. now owns 11,831 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 155 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on SKT. Hilliard Lyons upgraded Tanger Factory Outlet Centers from a “neutral” rating to a “buy” rating in a report on Monday. Royal Bank Of Canada lifted their target price on Tanger Factory Outlet Centers from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Monday, August 1st. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. Jefferies Group reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Wednesday, August 31st. Finally, Goldman Sachs Group Inc. downgraded Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $44.00 to $40.00 in a report on Wednesday, October 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $40.58.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. The Company’s consolidated portfolio consists of approximately 34 outlet centers, with a total gross leasable area of approximately 11.7 million square feet.

5 Day Chart for NYSE:SKT

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