State Board of Administration of Florida Retirement System Acquires 14,418 Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

State Board of Administration of Florida Retirement System boosted its holdings in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKTGet Rating) by 39.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,260 shares of the real estate investment trust’s stock after acquiring an additional 14,418 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Tanger Factory Outlet Centers were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SKT. Tompkins Financial Corp grew its holdings in Tanger Factory Outlet Centers by 87.5% during the 1st quarter. Tompkins Financial Corp now owns 1,500 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 700 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Tanger Factory Outlet Centers by 849.9% during the 2nd quarter. Lindbrook Capital LLC now owns 3,600 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,221 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Tanger Factory Outlet Centers during the 1st quarter worth approximately $74,000. Northwestern Mutual Wealth Management Co. bought a new stake in Tanger Factory Outlet Centers during the 1st quarter worth approximately $87,000. Finally, Samalin Investment Counsel LLC grew its holdings in Tanger Factory Outlet Centers by 18.7% during the 1st quarter. Samalin Investment Counsel LLC now owns 6,746 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 1,065 shares during the last quarter. 75.40% of the stock is owned by institutional investors.

Tanger Factory Outlet Centers Trading Down 0.1 %

NYSE:SKT opened at $19.49 on Friday. The firm’s fifty day moving average is $16.49 and its 200-day moving average is $16.18. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.36 and a current ratio of 2.36. Tanger Factory Outlet Centers, Inc. has a 52 week low of $13.26 and a 52 week high of $21.79. The firm has a market cap of $2.03 billion, a P/E ratio of 27.07, a P/E/G ratio of 1.20 and a beta of 1.83.

Tanger Factory Outlet Centers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were paid a $0.22 dividend. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Friday, October 28th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 122.22%.

Insider Activity at Tanger Factory Outlet Centers

In related news, insider Steven B. Tanger sold 50,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $19.50, for a total transaction of $975,000.00. Following the transaction, the insider now owns 1,349,686 shares in the company, valued at approximately $26,318,877. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SKT has been the topic of a number of analyst reports. Evercore ISI reduced their price objective on shares of Tanger Factory Outlet Centers from $17.00 to $15.00 in a research note on Tuesday, September 27th. StockNews.com initiated coverage on shares of Tanger Factory Outlet Centers in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

About Tanger Factory Outlet Centers

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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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