Dimensional Fund Advisors LP Has $34.65 Million Holdings in Tanger Factory Outlet Centers Inc. (SKT)

Dimensional Fund Advisors LP lifted its position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 3.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,419,021 shares of the real estate investment trust’s stock after purchasing an additional 42,345 shares during the period. Dimensional Fund Advisors LP owned 1.50% of Tanger Factory Outlet Centers worth $34,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its holdings in Tanger Factory Outlet Centers by 7.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,012,260 shares of the real estate investment trust’s stock worth $26,299,000 after buying an additional 67,151 shares during the period. Prudential Financial Inc. lifted its holdings in Tanger Factory Outlet Centers by 40.3% during the second quarter. Prudential Financial Inc. now owns 133,535 shares of the real estate investment trust’s stock worth $3,469,000 after buying an additional 38,380 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Tanger Factory Outlet Centers by 18.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 8,871 shares of the real estate investment trust’s stock worth $230,000 after buying an additional 1,358 shares during the period. Swiss National Bank lifted its holdings in Tanger Factory Outlet Centers by 2.0% during the second quarter. Swiss National Bank now owns 161,200 shares of the real estate investment trust’s stock worth $4,188,000 after buying an additional 3,100 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in Tanger Factory Outlet Centers by 44.4% during the second quarter. Oppenheimer & Co. Inc. now owns 11,839 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 3,641 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Shares of Tanger Factory Outlet Centers Inc. (SKT) traded down $0.19 on Monday, hitting $23.60. The stock had a trading volume of 2,045,141 shares, compared to its average volume of 1,390,000. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10. Tanger Factory Outlet Centers Inc. has a 12-month low of $21.81 and a 12-month high of $34.88. The stock has a market cap of $2,230.00, a price-to-earnings ratio of 38.06, a PEG ratio of 3.04 and a beta of 0.44.

Tanger Factory Outlet Centers (NYSE:SKT) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.77). Tanger Factory Outlet Centers had a net margin of 12.34% and a return on equity of 8.98%. The firm had revenue of $120.77 million during the quarter, compared to analyst estimates of $117.51 million. research analysts forecast that Tanger Factory Outlet Centers Inc. will post 2.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.343 dividend. This represents a $1.37 annualized dividend and a dividend yield of 5.81%. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio is presently 220.97%.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was 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 approximately $1,255,894.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

SKT has been the subject of a number of analyst reports. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Zacks Investment Research lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. ValuEngine lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Friday. Bank of America upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Finally, Citigroup decreased their price objective on 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. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.60.

WARNING: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/05/dimensional-fund-advisors-lp-increases-position-in-tanger-factory-outlet-centers-inc-skt.html.

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)

Receive News & Ratings for Tanger Factory Outlet Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply