Cambridge Investment Research Advisors Inc. Trims Stock Position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Cambridge Investment Research Advisors Inc. cut its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKTGet Rating) by 6.2% in the 3rd quarter, Holdings Channel reports. The fund owned 18,534 shares of the real estate investment trust’s stock after selling 1,226 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Tanger Factory Outlet Centers were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SKT. Lazard Asset Management LLC acquired a new position in Tanger Factory Outlet Centers during the 2nd quarter worth approximately $26,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Tanger Factory Outlet Centers by 44.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,552 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 785 shares during the period. Eagle Bay Advisors LLC acquired a new position in Tanger Factory Outlet Centers during the 2nd quarter worth approximately $50,000. Lindbrook Capital LLC increased its position 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 purchasing an additional 3,221 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Tanger Factory Outlet Centers during the 1st quarter worth approximately $74,000. 74.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SKT. StockNews.com began coverage on Tanger Factory Outlet Centers in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Evercore ISI dropped their target price on Tanger Factory Outlet Centers from $17.00 to $15.00 in a research report on Tuesday, September 27th. Finally, Citigroup upped their price target on Tanger Factory Outlet Centers from $15.00 to $20.00 in a report on Wednesday, December 14th.

Tanger Factory Outlet Centers Stock Performance

SKT opened at $18.47 on Friday. The stock has a market cap of $1.93 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.14 and a beta of 1.80. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.36 and a quick ratio of 2.36. The stock’s 50 day simple moving average is $18.69 and its 200 day simple moving average is $16.80. Tanger Factory Outlet Centers, Inc. has a 1-year low of $13.26 and a 1-year high of $19.91.

Insider Buying and Selling

In related news, insider Steven B. Tanger sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $19.50, for a total value of $975,000.00. Following the sale, the insider now owns 1,349,686 shares in the company, valued at approximately $26,318,877. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Tanger Factory Outlet Centers Profile

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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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