Northstar Investment Advisors LLC Acquires Shares of 325,497 Tanger Factory Outlet Centers Inc. (NYSE:SKT)

Northstar Investment Advisors LLC acquired a new stake in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 325,497 shares of the real estate investment trust’s stock, valued at approximately $8,629,000. Northstar Investment Advisors LLC owned 0.34% of Tanger Factory Outlet Centers as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKT. Advisor Group Inc. lifted 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 worth $116,000 after buying an additional 303 shares during the period. QS Investors LLC lifted its holdings in Tanger Factory Outlet Centers by 10.1% in the 2nd quarter. QS Investors LLC now owns 19,048 shares of the real estate investment trust’s stock worth $495,000 after buying an additional 1,745 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Tanger Factory Outlet Centers by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 142,092 shares of the real estate investment trust’s stock worth $3,691,000 after buying an additional 2,704 shares during the period. Salem Investment Counselors Inc. lifted its holdings in 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 buying an additional 3,045 shares during the period. Finally, Amalgamated Bank lifted its holdings in Tanger Factory Outlet Centers by 21.5% in the 2nd quarter. Amalgamated Bank now owns 18,249 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 3,231 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Several brokerages have recently issued reports on SKT. Jefferies Group reissued a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Zacks Investment Research lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Citigroup decreased their target price on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Friday, November 10th. ValuEngine lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Bank of America raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.60.

In other news, CMO Carrie A. Geldner sold 2,250 shares of the firm’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 in the company, valued at approximately $1,255,894.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Tanger Factory Outlet Centers Inc. (SKT) traded down $1.47 during trading on Wednesday, hitting $22.00. The company’s stock had a trading volume of 6,489,394 shares, compared to its average volume of 1,722,414. The company has a market cap of $2,030.00, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 2.98 and a beta of 0.44. Tanger Factory Outlet Centers Inc. has a twelve month low of $21.14 and a twelve month high of $34.76. 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 (NYSE:SKT) last posted its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.05. The business had revenue of $126.49 million during the quarter, compared to analyst estimates of $122.67 million. Tanger Factory Outlet Centers had a return on equity of 8.98% and a net margin of 12.34%. research analysts expect that Tanger Factory Outlet Centers Inc. will post 2.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.343 dividend. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date is Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) 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.

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

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