Teachers Retirement System of The State of Kentucky decreased its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 6.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,874 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Tanger Factory Outlet Centers were worth $595,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. RMR Advisors LLC acquired a new stake in Tanger Factory Outlet Centers in the 2nd quarter valued at about $114,000. Advisor Group Inc. raised its holdings in Tanger Factory Outlet Centers by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 303 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Tanger Factory Outlet Centers by 9.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,513 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 649 shares during the last quarter. LS Investment Advisors LLC raised its holdings in Tanger Factory Outlet Centers by 19.9% in the 2nd quarter. LS Investment Advisors LLC now owns 7,629 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 1,266 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in Tanger Factory Outlet Centers by 101.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,859 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 3,959 shares during the last quarter. Institutional investors own 95.70% of the company’s stock.

In related news, COO Thomas E. Mcdonough sold 10,734 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $26.74, for a total transaction of $287,027.16. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, SVP Carrie A. Geldner sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were 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 in the company, valued at approximately $1,293,895.98. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

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Shares of Tanger Factory Outlet Centers, Inc. (SKT) opened at 25.27 on Wednesday. Tanger Factory Outlet Centers, Inc. has a one year low of $23.06 and a one year high of $37.34. The stock’s 50 day moving average is $24.50 and its 200-day moving average is $26.81. The firm has a market cap of $2.40 billion, a P/E ratio of 16.78 and a beta of 0.49.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $119.60 million for the quarter, compared to the consensus estimate of $122.00 million. Tanger Factory Outlet Centers had a net margin of 29.65% and a return on equity of 20.75%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Analysts anticipate that Tanger Factory Outlet Centers, Inc. will post $0.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 90.73%.

A number of analysts have commented on SKT shares. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. BidaskClub upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Friday, August 4th. KeyCorp restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Friday, August 25th. Bank of America Corporation downgraded shares of Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $28.00 to $25.50 in a report on Friday, June 23rd. Finally, Jefferies Group LLC restated a “hold” rating and set a $26.00 price target on shares of Tanger Factory Outlet Centers in a report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.50.

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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