American International Group Inc. lessened its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,264 shares of the real estate investment trust’s stock after selling 2,922 shares during the quarter. American International Group Inc. owned about 0.20% of Tanger Factory Outlet Centers worth $4,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Walter & Keenan Financial Consulting Co. MI ADV increased its stake in shares of Tanger Factory Outlet Centers by 128.6% during the third quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 47,100 shares of the real estate investment trust’s stock valued at $1,150,000 after acquiring an additional 26,500 shares during the period. Malaga Cove Capital LLC increased its stake in shares of Tanger Factory Outlet Centers by 7.8% during the third quarter. Malaga Cove Capital LLC now owns 51,266 shares of the real estate investment trust’s stock valued at $1,252,000 after acquiring an additional 3,711 shares during the period. Stephens Inc. AR acquired a new position in shares of Tanger Factory Outlet Centers during the third quarter valued at approximately $309,000. Macquarie Group Ltd. increased its stake in shares of Tanger Factory Outlet Centers by 16.7% during the third quarter. Macquarie Group Ltd. now owns 43,150 shares of the real estate investment trust’s stock valued at $1,053,000 after acquiring an additional 6,167 shares during the period. Finally, Commonwealth Equity Services Inc increased its stake in shares of Tanger Factory Outlet Centers by 11.1% during the third quarter. Commonwealth Equity Services Inc now owns 83,130 shares of the real estate investment trust’s stock valued at $2,030,000 after acquiring an additional 8,273 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

SKT has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Jefferies Group 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. Citigroup reduced their target price on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a report on Friday, November 10th. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Finally, KeyCorp restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total transaction of $55,125.00. Following the completion of the sale, the chief marketing officer now directly owns 51,261 shares in the company, valued at $1,255,894.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.80% of the company’s stock.

Shares of Tanger Factory Outlet Centers, Inc. (SKT) traded down $0.18 during trading hours on Wednesday, reaching $24.99. 977,000 shares of the company were exchanged, compared to its average volume of 1,568,889. The company has a market capitalization of $2,379.27, a PE ratio of 12.28, a price-to-earnings-growth ratio of 3.33 and a beta of 0.52. Tanger Factory Outlet Centers, Inc. has a 1 year low of $21.81 and a 1 year high of $37.34. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.91.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were issued a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend was Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 220.97%.

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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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