Third Avenue Management LLC lowered its position in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 37,519 shares of the real estate investment trust’s stock after selling 155 shares during the period. Third Avenue Management LLC’s holdings in Tanger Factory Outlet Centers were worth $1,342,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Tanger Factory Outlet Centers by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 16,408 shares of the real estate investment trust’s stock worth $659,000 after buying an additional 54 shares during the period. Advisor Group Inc. raised its stake in shares of Tanger Factory Outlet Centers by 2.3% in the third quarter. Advisor Group Inc. now owns 4,669 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 107 shares during the period. Capstone Asset Management Co. raised its stake in shares of Tanger Factory Outlet Centers by 2.1% in the third quarter. Capstone Asset Management Co. now owns 7,381 shares of the real estate investment trust’s stock worth $288,000 after buying an additional 150 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of Tanger Factory Outlet Centers by 1.3% in the third quarter. First Citizens Bank & Trust Co. now owns 11,831 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 155 shares during the period. Finally, Piermont Capital Management Inc. raised its stake in shares of Tanger Factory Outlet Centers by 1.0% in the third quarter. Piermont Capital Management Inc. now owns 30,480 shares of the real estate investment trust’s stock worth $1,188,000 after buying an additional 304 shares during the period. 94.39% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) traded down 0.03% on Thursday, hitting $33.41. The stock had a trading volume of 539,264 shares. The firm’s 50-day moving average is $34.89 and its 200-day moving average is $36.69. Tanger Factory Outlet Centers, Inc. has a 52-week low of $31.01 and a 52-week high of $42.20. The company has a market cap of $3.18 billion, a P/E ratio of 16.62 and a beta of 0.41.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Tuesday, February 14th. The real estate investment trust reported $0.61 earnings per share for the quarter, hitting the consensus estimate of $0.61. The company earned $124.60 million during the quarter, compared to analyst estimates of $122.17 million. Tanger Factory Outlet Centers had a return on equity of 42.50% and a net margin of 60.55%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. Equities research analysts anticipate that Tanger Factory Outlet Centers, Inc. will post $1.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, January 27th. This represents a $1.30 annualized dividend and a dividend yield of 3.89%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 44.98%.

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A number of equities research analysts have weighed in on the company. Hilliard Lyons raised Tanger Factory Outlet Centers from a “neutral” rating to a “buy” rating in a research report on Monday, November 7th. Goldman Sachs Group, Inc. (The) lowered Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and decreased their target price for the company from $44.00 to $40.00 in a research report on Wednesday, October 26th. Jefferies Group LLC raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and lifted their target price for the company from $41.00 to $42.00 in a research report on Wednesday, January 4th. Citigroup Inc. lowered Tanger Factory Outlet Centers from a “neutral” rating to a “sell” rating and set a $33.00 target price for the company. in a research report on Tuesday, December 13th. Finally, Zacks Investment Research lowered Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Friday, January 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $40.58.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. The Company’s consolidated portfolio consists of approximately 34 outlet centers, with a total gross leasable area of approximately 11.7 million square feet.

5 Day Chart for NYSE:SKT

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