Tanger Factory Outlet Centers Inc. (NYSE:SKT) was the recipient of unusually large options trading on Thursday. Investors purchased 37,931 put options on the stock. This represents an increase of 4,437% compared to the typical volume of 836 put options.
Tanger Factory Outlet Centers (NYSE:SKT) opened at $22.39 on Friday. 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 firm has a market capitalization of $2,073.71, a P/E ratio of 10.44, a P/E/G ratio of 2.88 and a beta of 0.44. Tanger Factory Outlet Centers has a 12-month low of $21.14 and a 12-month high of $34.76.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $126.49 million during the quarter, compared to analysts’ expectations of $122.67 million. Tanger Factory Outlet Centers had a return on equity of 10.45% and a net margin of 13.80%. equities analysts predict that Tanger Factory Outlet Centers will post 2.44 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.343 per share. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a yield of 6.13%. The ex-dividend date of this dividend was Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 195.71%.
SKT has been the subject of several research analyst reports. Boenning Scattergood upgraded Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research note on Friday, November 3rd. Bank of America upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research note on Thursday, November 9th. Citigroup reduced their price target 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. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Finally, Jefferies Group reiterated a “hold” rating and set a $24.00 price target on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $26.60.
In other news, CMO Carrie A. Geldner sold 2,250 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the completion of the transaction, the chief marketing officer now directly owns 51,261 shares in the company, valued at $1,255,894.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas E. Mcdonough sold 11,276 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $22.55, for a total value of $254,273.80. Following the completion of the transaction, the chief operating officer now owns 159,088 shares of the company’s stock, valued at $3,587,434.40. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SKT. Principal Financial Group Inc. grew its holdings in Tanger Factory Outlet Centers by 29.5% in the third quarter. Principal Financial Group Inc. now owns 5,110,454 shares of the real estate investment trust’s stock valued at $124,797,000 after purchasing an additional 1,163,429 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Tanger Factory Outlet Centers in the fourth quarter valued at approximately $24,612,000. AEW Capital Management L P grew its holdings in Tanger Factory Outlet Centers by 52.0% in the fourth quarter. AEW Capital Management L P now owns 1,589,020 shares of the real estate investment trust’s stock valued at $42,125,000 after purchasing an additional 543,700 shares during the period. Wells Fargo & Company MN grew its holdings in Tanger Factory Outlet Centers by 352.5% in the third quarter. Wells Fargo & Company MN now owns 553,927 shares of the real estate investment trust’s stock valued at $13,526,000 after purchasing an additional 431,513 shares during the period. Finally, King Street Capital Management L.P. acquired a new stake in Tanger Factory Outlet Centers in the third quarter valued at approximately $9,280,000. Institutional investors own 95.30% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This article was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.dispatchtribunal.com/2018/02/23/tanger-factory-outlet-centers-target-of-unusually-high-options-trading-skt.html.
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.
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.