State Board of Administration of Florida Retirement System Has $802,000 Stock Position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

State Board of Administration of Florida Retirement System lifted its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 20.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 44,732 shares of the real estate investment trust’s stock after buying an additional 7,689 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Tanger Factory Outlet Centers were worth $802,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SKT. Point72 Hong Kong Ltd bought a new stake in shares of Tanger Factory Outlet Centers during the 1st quarter worth $74,000. M&T Bank Corp lifted its position in shares of Tanger Factory Outlet Centers by 6.0% during the 3rd quarter. M&T Bank Corp now owns 10,623 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 602 shares during the last quarter. 1620 Investment Advisors Inc. lifted its position in shares of Tanger Factory Outlet Centers by 5.3% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 10,783 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 547 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Tanger Factory Outlet Centers during the 2nd quarter worth $178,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter worth $180,000. 74.61% of the stock is owned by institutional investors and hedge funds.

Tanger Factory Outlet Centers Price Performance

Shares of SKT opened at $19.97 on Thursday. Tanger Factory Outlet Centers, Inc. has a 1 year low of $13.26 and a 1 year high of $20.27. The company has a debt-to-equity ratio of 2.82, a current ratio of 2.97 and a quick ratio of 2.97. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 5.13 and a beta of 1.81. The business has a 50-day moving average of $18.94 and a 200-day moving average of $18.77.

Tanger Factory Outlet Centers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 28th were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 4.91%. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, April 27th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 124.05%.

Analyst Upgrades and Downgrades

SKT has been the subject of several research reports. The Goldman Sachs Group initiated coverage on Tanger Factory Outlet Centers in a research report on Tuesday, March 21st. They issued a “buy” rating and a $22.00 target price for the company. StockNews.com initiated coverage on Tanger Factory Outlet Centers in a research report on Thursday. They issued a “hold” rating for the company. Finally, Compass Point downgraded Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Monday, January 30th.

Tanger Factory Outlet Centers Profile

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Tanger Factory Outlet Centers, Inc engages in the operation of upscale open-air outlet centers. The firm focuses on developing, acquiring, owning, operating, and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.