Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Director Sells $99,750.00 in Stock

Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) Director Thomas Reddin sold 5,000 shares of the 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 completion of the sale, the director now directly owns 45,067 shares of the company’s stock, valued at approximately $899,086.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Tanger Factory Outlet Centers Trading Down 0.5 %

Shares of Tanger Factory Outlet Centers stock opened at $19.55 on Monday. The stock has a fifty day simple moving average of $19.01 and a 200 day simple moving average of $18.80. Tanger Factory Outlet Centers, Inc. has a 12-month low of $13.26 and a 12-month high of $20.27. The company has a market capitalization of $2.06 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 5.26 and a beta of 1.81. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 2.82.

Tanger Factory Outlet Centers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were given a $0.245 dividend. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $0.98 annualized dividend and a yield of 5.01%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.22. Tanger Factory Outlet Centers’s payout ratio is currently 124.05%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cerity Partners LLC purchased a new position in shares of Tanger Factory Outlet Centers during the 1st quarter valued at $394,000. Tower Research Capital LLC TRC raised its stake in shares of Tanger Factory Outlet Centers by 151.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,846 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 1,112 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter valued at $53,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Tanger Factory Outlet Centers by 92.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,702 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 1,778 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Tanger Factory Outlet Centers during the 1st quarter valued at $73,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SKT. Compass Point cut Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Monday, January 30th. StockNews.com began coverage on Tanger Factory Outlet Centers in a research report on Thursday. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group began coverage on Tanger Factory Outlet Centers in a research note on Tuesday, March 21st. They issued a “buy” rating and a $22.00 price objective on the stock.

Tanger Factory Outlet Centers Company 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.