HighTower Advisors LLC Has $3.41 Million Stake in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

HighTower Advisors LLC cut its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,821 shares of the real estate investment trust’s stock after selling 1,977 shares during the quarter. HighTower Advisors LLC’s holdings in Tanger Factory Outlet Centers were worth $3,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SKT. State Street Corp raised its position in shares of Tanger Factory Outlet Centers by 12.6% in the 1st quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock valued at $107,480,000 after buying an additional 700,755 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter valued at approximately $9,735,000. BlackRock Inc. grew its holdings in shares of Tanger Factory Outlet Centers by 3.0% during the 3rd quarter. BlackRock Inc. now owns 18,519,731 shares of the real estate investment trust’s stock valued at $253,349,000 after purchasing an additional 538,326 shares during the last quarter. Aew Capital Management L P bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter valued at approximately $8,093,000. Finally, Neuberger Berman Group LLC grew its holdings in shares of Tanger Factory Outlet Centers by 507.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 503,989 shares of the real estate investment trust’s stock valued at $6,895,000 after purchasing an additional 421,062 shares during the last quarter. 74.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Compass Point lowered shares of Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Monday, January 30th. The Goldman Sachs Group started coverage on shares of Tanger Factory Outlet Centers in a report on Tuesday, March 21st. They set a “buy” rating and a $22.00 price target on the stock. Finally, StockNews.com started coverage on shares of Tanger Factory Outlet Centers in a report on Thursday. They set a “hold” rating on the stock.

Insiders Place Their Bets

In other news, Director Thomas Reddin sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $19.95, for a total value of $99,750.00. Following the transaction, the director now owns 45,067 shares in the company, valued at approximately $899,086.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Tanger Factory Outlet Centers Trading Down 0.5 %

SKT opened at $19.55 on Friday. Tanger Factory Outlet Centers, Inc. has a fifty-two week low of $13.26 and a fifty-two week 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 firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 5.29 and a beta of 1.81. The company’s 50 day moving average price is $19.01 and its two-hundred day moving average price is $18.79.

Tanger Factory Outlet Centers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 5.01%. This is a positive change 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 payout ratio is presently 124.05%.

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.