Koch Industries Inc. bought a new stake in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 366,550 shares of the real estate investment trust’s stock, valued at approximately $353,000. Koch Industries Inc. owned 0.39% of Tanger Factory Outlet Centers at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SKT. Bank of New York Mellon Corp raised its stake in shares of Tanger Factory Outlet Centers by 22.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,441,323 shares of the real estate investment trust’s stock valued at $63,426,000 after purchasing an additional 441,736 shares during the period. Goodwin Daniel L bought a new stake in shares of Tanger Factory Outlet Centers during the 2nd quarter valued at $317,000. Advisors Asset Management Inc. raised its stake in shares of Tanger Factory Outlet Centers by 4.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 44,673 shares of the real estate investment trust’s stock valued at $1,161,000 after purchasing an additional 2,014 shares during the period. Principal Financial Group Inc. raised its stake in shares of Tanger Factory Outlet Centers by 199.1% during the 2nd 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 period. Finally, Credit Suisse AG raised its stake in shares of Tanger Factory Outlet Centers by 5.7% during the 1st quarter. Credit Suisse AG now owns 428,564 shares of the real estate investment trust’s stock valued at $14,043,000 after purchasing an additional 23,157 shares during the period. Hedge funds and other institutional investors own 95.70% of the company’s stock.

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

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) traded up 0.28% during mid-day trading on Tuesday, hitting $24.99. The company had a trading volume of 150,068 shares. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 16.59 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 $37.34. The firm’s 50 day moving average is $24.50 and its 200 day moving average is $26.81.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.3425 per share. The ex-dividend date is Monday, October 30th. This represents a $1.37 dividend on an annualized basis and a yield of 5.50%. Tanger Factory Outlet Centers’s dividend payout ratio is presently 90.73%.

TRADEMARK VIOLATION WARNING: “Koch Industries Inc. Invests $353,000 in Tanger Factory Outlet Centers, Inc. (SKT)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/17/koch-industries-inc-invests-353000-in-tanger-factory-outlet-centers-inc-skt.html.

A number of research firms recently issued reports on SKT. BidaskClub lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Boenning Scattergood set a $25.00 price objective on Tanger Factory Outlet Centers and gave the company a “sell” rating in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $26.00 price objective on shares of Tanger Factory Outlet Centers in a research note on Thursday, September 21st. Bank of America Corporation lowered Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $28.00 to $25.50 in a research note on Friday, June 23rd. Finally, KeyCorp reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Tanger Factory Outlet Centers presently has an average rating of “Hold” and an average price target of $30.50.

About Tanger Factory Outlet Centers

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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