LPL Financial LLC Increases Position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

LPL Financial LLC raised its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 7.3% during the fourth quarter, Holdings Channel reports. The firm owned 103,872 shares of the real estate investment trust’s stock after buying an additional 7,055 shares during the quarter. LPL Financial LLC’s holdings in Tanger Factory Outlet Centers were worth $1,863,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in shares of Tanger Factory Outlet Centers in the first quarter worth $74,000. M&T Bank Corp grew its stake in shares of Tanger Factory Outlet Centers by 6.0% in the third quarter. M&T Bank Corp now owns 10,623 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 602 shares in the last quarter. 1620 Investment Advisors Inc. grew its stake in shares of Tanger Factory Outlet Centers by 5.3% in the third quarter. 1620 Investment Advisors Inc. now owns 10,783 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 547 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter worth $178,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Tanger Factory Outlet Centers during the fourth quarter worth $180,000. Institutional investors and hedge funds own 74.61% of the company’s stock.

Tanger Factory Outlet Centers Price Performance

Shares of NYSE:SKT opened at $19.98 on Wednesday. The company has a 50-day simple moving average of $19.09 and a 200-day simple moving average of $18.81. Tanger Factory Outlet Centers, Inc. has a one year low of $13.26 and a one year high of $20.27. The company has a debt-to-equity ratio of 2.82, a quick ratio of 2.97 and a current ratio of 2.97. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 5.26 and a beta of 1.81.

Tanger Factory Outlet Centers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were issued a dividend of $0.245 per share. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.22. This represents a $0.98 annualized dividend and a yield of 4.90%. The ex-dividend date was Thursday, April 27th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 124.05%.

Insider Buying and Selling

In related news, Director Thomas Reddin sold 5,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $19.95, for a total transaction of $99,750.00. Following the completion of the transaction, the director now directly owns 45,067 shares of the company’s stock, valued at $899,086.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SKT shares. StockNews.com started coverage on shares of Tanger Factory Outlet Centers in a research note on Thursday, May 18th. They set a “hold” rating for the company. Compass Point downgraded shares of 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 note on Monday, January 30th. Finally, The Goldman Sachs Group started coverage on shares of Tanger Factory Outlet Centers in a research note on Tuesday, March 21st. They set a “buy” rating and a $22.00 target price for the company.

About Tanger Factory Outlet Centers

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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.