Comerica Bank Sells 9,200 Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Comerica Bank decreased its holdings in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 10.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,555 shares of the real estate investment trust’s stock after selling 9,200 shares during the period. Comerica Bank’s holdings in Tanger Factory Outlet Centers were worth $1,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Texas Permanent School Fund raised its position in shares of Tanger Factory Outlet Centers by 2.4% in the 2nd quarter. Texas Permanent School Fund now owns 75,454 shares of the real estate investment trust’s stock worth $1,073,000 after acquiring an additional 1,733 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Tanger Factory Outlet Centers by 5.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 84,482 shares of the real estate investment trust’s stock worth $1,201,000 after acquiring an additional 4,265 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Tanger Factory Outlet Centers by 3.9% in the 3rd quarter. Pacer Advisors Inc. now owns 622,050 shares of the real estate investment trust’s stock worth $8,510,000 after acquiring an additional 23,113 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Tanger Factory Outlet Centers in the 2nd quarter worth approximately $2,005,000. Finally, Natixis bought a new position in shares of Tanger Factory Outlet Centers in the 2nd quarter worth approximately $883,000. Institutional investors own 74.61% of the company’s stock.

Tanger Factory Outlet Centers Stock Performance

Tanger Factory Outlet Centers stock opened at $18.33 on Monday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 2.71. The company has a market capitalization of $1.91 billion, a P/E ratio of 25.46, a PEG ratio of 1.13 and a beta of 1.80. The stock’s 50 day moving average is $18.63 and its 200 day moving average is $16.94. Tanger Factory Outlet Centers, Inc. has a twelve month low of $13.26 and a twelve month high of $19.91.

Tanger Factory Outlet Centers Announces Dividend

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

Insider Buying and Selling at Tanger Factory Outlet Centers

In other Tanger Factory Outlet Centers news, insider Steven B. Tanger sold 50,000 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $19.00, for a total transaction of $950,000.00. Following the sale, the insider now directly owns 1,399,686 shares in the company, valued at approximately $26,594,034. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup increased their target price on Tanger Factory Outlet Centers from $15.00 to $20.00 in a research report on Wednesday, December 14th. StockNews.com assumed coverage on Tanger Factory Outlet Centers in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Evercore ISI cut their price target on Tanger Factory Outlet Centers from $17.00 to $15.00 in a research note on Tuesday, September 27th.

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.