Macquarie Group Ltd. Acquires 6,167 Shares of Tanger Factory Outlet Centers, Inc. (SKT)

Macquarie Group Ltd. lifted its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 16.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 43,150 shares of the real estate investment trust’s stock after acquiring an additional 6,167 shares during the quarter. Macquarie Group Ltd.’s holdings in Tanger Factory Outlet Centers were worth $1,053,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SKT. Advisor Group Inc. lifted its holdings in shares of 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 worth $116,000 after acquiring an additional 303 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Tanger Factory Outlet Centers by 164.2% in the 2nd quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 3,045 shares during the last quarter. Capital Advisors Ltd. LLC bought a new stake in shares of Tanger Factory Outlet Centers in the 3rd quarter worth approximately $134,000. Riverhead Capital Management LLC lifted its holdings in shares of 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 worth $204,000 after acquiring an additional 3,959 shares during the last quarter. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Tanger Factory Outlet Centers in the 2nd quarter worth approximately $218,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) traded up $0.63 during midday trading on Friday, hitting $25.08. 782,887 shares of the company traded hands, compared to its average volume of 1,298,231. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.91. Tanger Factory Outlet Centers, Inc. has a 12 month low of $21.81 and a 12 month high of $37.34. The stock has a market capitalization of $2,370.76, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 3.32 and a beta of 0.52.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were paid a $0.3425 dividend. This represents a $1.37 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 220.97%.

In related news, CMO Carrie A. Geldner sold 2,250 shares of Tanger Factory Outlet Centers stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total value of $55,125.00. Following the transaction, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Bank of America upgraded shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Citigroup lowered their price objective 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. KeyCorp restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $27.00.

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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.

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

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