Shares of Tanger Factory Outlet Centers (NYSE:SKT) have been given an average rating of “Hold” by the nine analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.50.
Several equities analysts have commented on SKT shares. Jefferies Group reissued a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a report on Friday, December 22nd. ValuEngine lowered shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Evercore ISI lowered shares of Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a report on Thursday, February 15th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, February 15th.
In related news, COO Thomas E. Mcdonough sold 11,276 shares of Tanger Factory Outlet Centers stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 159,088 shares of the company’s stock, valued at approximately $3,587,434.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Virginia R. Summerell sold 5,800 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $22.90, for a total transaction of $132,820.00. Following the sale, the vice president now directly owns 32,025 shares in the company, valued at $733,372.50. The disclosure for this sale can be found here. Insiders have sold a total of 17,515 shares of company stock worth $396,945 over the last ninety days. 4.80% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in SKT. Wedge Capital Management L L P NC bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter valued at approximately $24,612,000. AEW Capital Management L P grew its holdings in shares of Tanger Factory Outlet Centers by 52.0% during the 4th 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 last quarter. Wells Fargo & Company MN grew its holdings in shares of Tanger Factory Outlet Centers by 352.5% during the 3rd 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 last quarter. King Street Capital Management L.P. bought a new stake in shares of Tanger Factory Outlet Centers during the 3rd quarter valued at approximately $9,280,000. Finally, Northstar Investment Advisors LLC acquired a new stake in Tanger Factory Outlet Centers during the 4th quarter worth approximately $8,629,000. 95.30% of the stock is currently owned by institutional investors.
SKT stock traded up $0.06 during mid-day trading on Wednesday, hitting $22.84. The stock had a trading volume of 261,338 shares, compared to its average volume of 1,688,280. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 2.88. Tanger Factory Outlet Centers has a 52 week low of $21.14 and a 52 week high of $33.68. The firm has a market cap of $2,153.57, a P/E ratio of 9.26, a P/E/G ratio of 1.76 and a beta of 0.52.
Tanger Factory Outlet Centers (NYSE:SKT) last released its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%. The firm had revenue of $126.49 million for the quarter, compared to analyst estimates of $122.67 million. equities analysts predict that Tanger Factory Outlet Centers will post 2.45 EPS for the current year.
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Tanger Factory Outlet Centers Company Profile
Tanger Factory Outlet Centers, Inc (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 500 different brand name companies.
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