Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) have received an average rating of “Hold” from the ten analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $27.50.
SKT has been the subject of a number of recent analyst reports. Zacks Investment Research cut Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Boenning Scattergood raised Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research report on Friday, November 3rd. Bank of America raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. 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. Finally, Jefferies Group reaffirmed a “hold” rating and set a $24.00 target price on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd.
Tanger Factory Outlet Centers (NYSE:SKT) traded up $0.61 on Tuesday, reaching $22.55. The company had a trading volume of 2,100,000 shares, compared to its average volume of 2,142,728. Tanger Factory Outlet Centers has a one year low of $21.14 and a one year high of $34.76. The company has a current ratio of 0.07, a quick ratio of 0.10 and a debt-to-equity ratio of 2.88. The stock has a market cap of $2,132.35, a PE ratio of 32.21, a P/E/G ratio of 2.96 and a beta of 0.44.
Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. Tanger Factory Outlet Centers had a return on equity of 10.45% and a net margin of 13.80%. The company had revenue of $126.49 million during the quarter, compared to analysts’ expectations of $122.67 million. sell-side analysts anticipate that Tanger Factory Outlet Centers will post 2.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were given a dividend of $0.343 per share. The ex-dividend date was Tuesday, January 30th. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a yield of 6.08%. Tanger Factory Outlet Centers’s payout ratio is 195.71%.
In other Tanger Factory Outlet Centers news, CMO Carrie A. Geldner sold 2,250 shares of Tanger Factory Outlet Centers stock in a transaction on Tuesday, November 28th. The stock was 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 of the company’s stock, valued at approximately $1,255,894.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SKT. Advisor Group Inc. raised its position in Tanger Factory Outlet Centers by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 303 shares in the last quarter. Capital Advisors Ltd. LLC bought a new position in shares of Tanger Factory Outlet Centers in the 3rd quarter worth $134,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Tanger Factory Outlet Centers by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 2,107 shares in the last quarter. Telemus Capital LLC bought a new position in shares of Tanger Factory Outlet Centers in the 3rd quarter worth $244,000. Finally, Lido Advisors LLC bought a new position in shares of Tanger Factory Outlet Centers in the 4th quarter worth $265,000. 95.30% of the stock is owned by institutional investors and hedge funds.
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Tanger Factory Outlet Centers Company 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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