Alliancebernstein L.P. lessened its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,672 shares of the real estate investment trust’s stock after selling 5,040 shares during the period. Alliancebernstein L.P. owned 0.13% of Tanger Factory Outlet Centers worth $3,239,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SKT. BlackRock Inc. grew its holdings in Tanger Factory Outlet Centers by 2,800.6% during the first quarter. BlackRock Inc. now owns 11,216,024 shares of the real estate investment trust’s stock valued at $367,550,000 after purchasing an additional 10,829,338 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Tanger Factory Outlet Centers by 199.1% during the second quarter. Principal Financial Group Inc. now owns 3,947,025 shares of the real estate investment trust’s stock valued at $102,543,000 after purchasing an additional 2,627,566 shares during the last quarter. State Street Corp grew its holdings in Tanger Factory Outlet Centers by 8.6% during the first quarter. State Street Corp now owns 10,158,106 shares of the real estate investment trust’s stock valued at $332,880,000 after purchasing an additional 805,917 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Tanger Factory Outlet Centers by 278.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 678,150 shares of the real estate investment trust’s stock valued at $17,618,000 after purchasing an additional 498,985 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Tanger Factory Outlet Centers by 9.8% during the first quarter. Morgan Stanley now owns 5,353,601 shares of the real estate investment trust’s stock valued at $175,438,000 after purchasing an additional 477,744 shares during the last quarter. Institutional investors own 96.82% of the company’s stock.

In related news, SVP Carrie A. Geldner sold 1,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total transaction of $43,524.00. Following the transaction, the senior vice president now directly owns 53,511 shares of the company’s stock, valued at approximately $1,293,895.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas E. Mcdonough sold 10,734 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total value of $287,027.16. Following the transaction, the chief operating officer now directly owns 180,551 shares in the company, valued at $4,827,933.74. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by insiders.

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SKT has been the topic of several analyst reports. Bank of America Corporation downgraded Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $28.00 to $25.50 in a report on Friday, June 23rd. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Saturday, July 15th. Boenning Scattergood set a $25.00 price target on Tanger Factory Outlet Centers and gave the company a “sell” rating in a report on Thursday, August 3rd. Jefferies Group LLC downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and lowered their price target for the company from $38.00 to $29.00 in a report on Friday, June 16th. Finally, BidaskClub upgraded Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.50.

Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) opened at 24.82 on Monday. The stock has a 50 day moving average price of $24.33 and a 200 day moving average price of $27.15. The company has a market capitalization of $2.36 billion, a PE ratio of 16.48 and a beta of 0.49. Tanger Factory Outlet Centers, Inc. has a 52-week low of $23.06 and a 52-week high of $37.54.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $119.60 million for the quarter, compared to analyst estimates of $122.00 million. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. On average, analysts predict that Tanger Factory Outlet Centers, Inc. will post $0.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is presently 90.73%.

Tanger Factory Outlet Centers 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.

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

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