Van ECK Associates Corp Decreases Stake in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Van ECK Associates Corp lowered its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 36.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,845 shares of the real estate investment trust’s stock after selling 3,353 shares during the period. Van ECK Associates Corp’s holdings in Tanger Factory Outlet Centers were worth $80,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its holdings in Tanger Factory Outlet Centers by 0.4% during the 2nd quarter. State Street Corp now owns 6,280,470 shares of the real estate investment trust’s stock valued at $89,308,000 after buying an additional 28,011 shares in the last quarter. Northern Trust Corp grew its holdings in Tanger Factory Outlet Centers by 18.7% during the 2nd quarter. Northern Trust Corp now owns 1,860,537 shares of the real estate investment trust’s stock valued at $26,456,000 after buying an additional 293,071 shares in the last quarter. Granite Investment Partners LLC grew its holdings in Tanger Factory Outlet Centers by 6.7% during the 3rd quarter. Granite Investment Partners LLC now owns 946,629 shares of the real estate investment trust’s stock valued at $12,950,000 after buying an additional 59,058 shares in the last quarter. Legal & General Group Plc grew its holdings in Tanger Factory Outlet Centers by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 874,542 shares of the real estate investment trust’s stock valued at $12,436,000 after buying an additional 13,251 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Tanger Factory Outlet Centers by 63.8% during the 1st quarter. Renaissance Technologies LLC now owns 806,242 shares of the real estate investment trust’s stock valued at $13,859,000 after buying an additional 313,979 shares in the last quarter. Hedge funds and other institutional investors own 74.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, insider Steven B. Tanger sold 50,000 shares of the business’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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. 5.80% of the stock is currently owned by corporate insiders.

Tanger Factory Outlet Centers Stock Performance

Shares of SKT opened at $18.33 on Friday. The company has a market cap of $1.91 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.80. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 2.71. The stock has a 50-day moving average price of $18.63 and a 200-day moving average price of $16.91. Tanger Factory Outlet Centers, Inc. has a 12-month low of $13.26 and a 12-month high of $19.91.

Tanger Factory Outlet Centers Company 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.