11,312 Shares in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Bought by Redpoint Investment Management Pty Ltd

Redpoint Investment Management Pty Ltd purchased a new position in Tanger Factory Outlet Centers, Inc. (NYSE:SKTGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,312 shares of the real estate investment trust’s stock, valued at approximately $161,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKT. Waterfront Capital Partners LLC purchased a new stake in Tanger Factory Outlet Centers in the first quarter worth $20,913,000. State Street Corp grew its stake in Tanger Factory Outlet Centers by 12.6% in the first quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock worth $107,480,000 after purchasing an additional 700,755 shares during the period. Pacer Advisors Inc. purchased a new stake in Tanger Factory Outlet Centers in the first quarter worth $8,795,000. Renaissance Technologies LLC boosted its holdings in Tanger Factory Outlet Centers by 180.8% in the fourth quarter. Renaissance Technologies LLC now owns 492,263 shares of the real estate investment trust’s stock worth $9,491,000 after acquiring an additional 316,963 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Tanger Factory Outlet Centers by 11.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,111,808 shares of the real estate investment trust’s stock worth $40,716,000 after acquiring an additional 209,406 shares in the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on SKT shares. Evercore ISI boosted their target price on Tanger Factory Outlet Centers to $17.00 in a report on Monday, August 15th. Compass Point dropped their target price on Tanger Factory Outlet Centers from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd.

Tanger Factory Outlet Centers Trading Up 2.4 %

Tanger Factory Outlet Centers stock opened at $15.20 on Monday. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 2.72. The business’s fifty day simple moving average is $15.86 and its two-hundred day simple moving average is $16.31. Tanger Factory Outlet Centers, Inc. has a 12 month low of $13.77 and a 12 month high of $22.51. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 1.04 and a beta of 1.77.

Tanger Factory Outlet Centers (NYSE:SKTGet Rating) last released its earnings results on Monday, August 8th. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). The company had revenue of $105.84 million during the quarter, compared to the consensus estimate of $104.45 million. Tanger Factory Outlet Centers had a return on equity of 8.55% and a net margin of 9.75%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. As a group, equities analysts predict that Tanger Factory Outlet Centers, Inc. will post 1.77 earnings per share for the current fiscal year.

Tanger Factory Outlet Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 29th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date was Thursday, July 28th. Tanger Factory Outlet Centers’s payout ratio is currently 205.13%.

About Tanger Factory Outlet Centers

(Get Rating)

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.

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

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