Tanger Factory Outlet Centers Inc. (SKT) COO Thomas E. Mcdonough Sells 11,276 Shares

Tanger Factory Outlet Centers Inc. (NYSE:SKT) COO Thomas E. Mcdonough sold 11,276 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $22.55, for a total transaction of $254,273.80. Following the transaction, the chief operating officer now owns 159,088 shares in the company, valued at approximately $3,587,434.40. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Tanger Factory Outlet Centers Inc. (NYSE SKT) opened at $22.52 on Wednesday. The company has a market cap of $2,130.00, a price-to-earnings ratio of 32.17, a P/E/G ratio of 2.96 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 quick ratio of 0.10, a current ratio of 0.07 and a debt-to-equity ratio of 2.88.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $126.49 million for the quarter, compared to the consensus estimate of $122.67 million. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%. analysts expect that Tanger Factory Outlet Centers Inc. will post 2.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were issued a dividend of $0.343 per share. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.37 annualized dividend and a dividend yield of 6.09%. Tanger Factory Outlet Centers’s payout ratio is presently 195.71%.

Several large investors have recently bought and sold shares of the company. Advisor Group Inc. increased its holdings in shares of 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 worth $116,000 after purchasing an additional 303 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tanger Factory Outlet Centers by 34.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 2,107 shares during the period. FDx Advisors Inc. increased its holdings in shares of Tanger Factory Outlet Centers by 10.5% during the 4th quarter. FDx Advisors Inc. now owns 23,221 shares of the real estate investment trust’s stock worth $616,000 after purchasing an additional 2,215 shares during the period. ING Groep NV increased its holdings in shares of Tanger Factory Outlet Centers by 22.6% during the 4th quarter. ING Groep NV now owns 14,263 shares of the real estate investment trust’s stock worth $378,000 after purchasing an additional 2,633 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Tanger Factory Outlet Centers by 1.9% during 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 purchasing an additional 2,704 shares during the period. Institutional investors own 95.30% of the company’s stock.

Several research analysts recently commented on the stock. ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Jefferies Group reiterated a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Citigroup dropped their target price on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a report on Friday, November 10th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $26.60.

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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.

Insider Buying and Selling by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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