Teacher Retirement System of Texas raised its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 26.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 197,870 shares of the real estate investment trust’s stock after buying an additional 41,944 shares during the period. Teacher Retirement System of Texas owned 0.21% of Tanger Factory Outlet Centers worth $5,141,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Tanger Factory Outlet Centers by 1.8% in the second quarter. Arizona State Retirement System now owns 40,700 shares of the real estate investment trust’s stock worth $1,057,000 after buying an additional 700 shares during the last quarter. Walter & Keenan Financial Consulting Co. MI ADV acquired a new position in shares of Tanger Factory Outlet Centers during the second quarter worth approximately $535,000. Schwab Charles Investment Management Inc. boosted its position in shares of Tanger Factory Outlet Centers by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,012,260 shares of the real estate investment trust’s stock worth $26,299,000 after buying an additional 67,151 shares during the last quarter. Forward Management LLC acquired a new position in shares of Tanger Factory Outlet Centers during the second quarter worth approximately $2,063,000. Finally, Wetherby Asset Management Inc. acquired a new position in shares of Tanger Factory Outlet Centers during the second quarter worth approximately $218,000. Institutional investors own 97.97% of the company’s stock.

Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) opened at 24.48 on Thursday. The firm has a 50-day moving average of $26.32 and a 200-day moving average of $29.45. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 16.25 and a beta of 0.46. Tanger Factory Outlet Centers, Inc. has a one year low of $24.47 and a one year high of $41.25.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Tanger Factory Outlet Centers had a net margin of 29.65% and a return on equity of 20.75%. The business had revenue of $119.60 million for the quarter, compared to the consensus estimate of $122 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts forecast that Tanger Factory Outlet Centers, Inc. will post $1.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were paid a $0.3425 dividend. This represents a $1.37 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend was Thursday, July 27th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 90.73%.

Tanger Factory Outlet Centers declared that its board has approved a stock buyback program on Friday, May 19th that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 54% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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A number of equities analysts recently commented on the stock. BidaskClub upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Boenning Scattergood set a $25.00 target price on shares of Tanger Factory Outlet Centers and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Saturday, July 15th. Bank of America Corporation cut shares of Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $28.00 to $25.50 in a research report on Friday, June 23rd. Finally, Jefferies Group LLC cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and decreased their target price for the stock from $38.00 to $29.00 in a research report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Tanger Factory Outlet Centers currently has an average rating of “Hold” and a consensus target price of $32.43.

In other news, COO Thomas E. Mcdonough sold 10,734 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $26.74, for a total value of $287,027.16. Following the sale, the chief operating officer now owns 180,551 shares of the company’s stock, valued at $4,827,933.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

Institutional Ownership by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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