Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Grows Position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKTGet Rating) by 6.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 50,043 shares of the real estate investment trust’s stock after acquiring an additional 3,200 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Tanger Factory Outlet Centers were worth $685,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. State Street Corp raised its position in Tanger Factory Outlet Centers by 0.4% in the second quarter. State Street Corp now owns 6,280,470 shares of the real estate investment trust’s stock worth $89,308,000 after acquiring an additional 28,011 shares in the last quarter. Northern Trust Corp raised its position in Tanger Factory Outlet Centers by 18.7% in the second quarter. Northern Trust Corp now owns 1,860,537 shares of the real estate investment trust’s stock worth $26,456,000 after acquiring an additional 293,071 shares in the last quarter. Granite Investment Partners LLC raised its position in Tanger Factory Outlet Centers by 6.7% in the third quarter. Granite Investment Partners LLC now owns 946,629 shares of the real estate investment trust’s stock worth $12,950,000 after acquiring an additional 59,058 shares in the last quarter. Legal & General Group Plc raised its position in Tanger Factory Outlet Centers by 1.5% in the second quarter. Legal & General Group Plc now owns 874,542 shares of the real estate investment trust’s stock worth $12,436,000 after acquiring an additional 13,251 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Tanger Factory Outlet Centers by 63.8% in the first 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SKT. StockNews.com began coverage on Tanger Factory Outlet Centers in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Citigroup raised 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 objective on Tanger Factory Outlet Centers from $17.00 to $15.00 in a research report on Tuesday, September 27th.

Insiders Place Their Bets

In other Tanger Factory Outlet Centers news, insider Steven B. Tanger sold 50,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,349,686 shares of the company’s stock, valued at approximately $26,318,877. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.80% of the stock is owned by corporate insiders.

Tanger Factory Outlet Centers Trading Up 2.6 %

Tanger Factory Outlet Centers stock opened at $18.33 on Friday. The stock has a market cap of $1.91 billion, a PE ratio of 25.46, a P/E/G ratio of 1.13 and a beta of 1.80. The stock has a 50-day moving average price of $18.63 and a 200 day moving average price of $16.93. Tanger Factory Outlet Centers, Inc. has a 52 week low of $13.26 and a 52 week high of $19.91. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 2.71.

Tanger Factory Outlet Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Monday, January 30th. Tanger Factory Outlet Centers’s payout ratio is 122.22%.

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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