Principal Financial Group Inc. Sells 4,512 Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Principal Financial Group Inc. trimmed its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 642,990 shares of the real estate investment trust’s stock after selling 4,512 shares during the quarter. Principal Financial Group Inc.’s holdings in Tanger Factory Outlet Centers were worth $11,535,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Belpointe Asset Management LLC bought a new stake in Tanger Factory Outlet Centers in the 4th quarter worth about $53,000. Point72 Hong Kong Ltd bought a new stake in Tanger Factory Outlet Centers in the 1st quarter worth about $74,000. M&T Bank Corp increased its holdings in Tanger Factory Outlet Centers by 6.0% in 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 in the last quarter. 1620 Investment Advisors Inc. increased its holdings in Tanger Factory Outlet Centers by 5.3% in 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 in the last quarter. Finally, Franklin Resources Inc. bought a new stake in Tanger Factory Outlet Centers in the 2nd quarter worth about $178,000. 74.61% of the stock is currently owned by institutional investors.

Tanger Factory Outlet Centers Stock Up 0.7 %

SKT stock opened at $19.94 on Friday. Tanger Factory Outlet Centers, Inc. has a twelve month low of $13.26 and a twelve month high of $20.27. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 2.82. The stock has a market cap of $2.10 billion, a P/E ratio of 25.24, a PEG ratio of 5.33 and a beta of 1.81. The business’s 50-day moving average price is $19.16 and its 200-day moving average price is $18.83.

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 is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.22. This represents a $0.98 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date was Thursday, April 27th. Tanger Factory Outlet Centers’s payout ratio is presently 124.05%.

Insider Activity

In other news, Director Thomas Reddin sold 5,000 shares of Tanger Factory Outlet Centers stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $19.95, for a total transaction of $99,750.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SKT shares. StockNews.com started coverage on Tanger Factory Outlet Centers in a research note on Thursday, May 18th. They set a “hold” rating for the company. The Goldman Sachs Group started coverage on Tanger Factory Outlet Centers in a research note on Tuesday, March 21st. They set a “buy” rating and a $22.00 price target for the company. Finally, Compass Point downgraded Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Monday, January 30th.

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.