BlueCrest Capital Management Ltd grew its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 774.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 560,577 shares of the real estate investment trust’s stock after purchasing an additional 496,493 shares during the period. Tanger Factory Outlet Centers comprises about 0.6% of BlueCrest Capital Management Ltd’s holdings, making the stock its 25th largest position. BlueCrest Capital Management Ltd owned approximately 0.59% of Tanger Factory Outlet Centers worth $14,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Utah Retirement Systems increased its position in Tanger Factory Outlet Centers by 1.0% in the 1st quarter. Utah Retirement Systems now owns 21,185 shares of the real estate investment trust’s stock worth $694,000 after purchasing an additional 200 shares during the last quarter. Advisor Group Inc. increased its position in Tanger Factory Outlet Centers by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 303 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Tanger Factory Outlet Centers by 3.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,105 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 344 shares during the last quarter. Advantus Capital Management Inc increased its position in Tanger Factory Outlet Centers by 3.2% in the 1st quarter. Advantus Capital Management Inc now owns 12,324 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 385 shares during the last quarter. Finally, BB&T Securities LLC increased its position in Tanger Factory Outlet Centers by 6.2% in the 2nd quarter. BB&T Securities LLC now owns 8,575 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 501 shares during the last quarter. 96.82% of the stock is currently owned by institutional investors.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of Tanger Factory Outlet Centers stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total value of $43,524.00. Following the sale, the senior vice president now owns 53,511 shares of the company’s stock, valued at approximately $1,293,895.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas E. Mcdonough sold 10,734 shares of Tanger Factory Outlet Centers stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $26.74, for a total value of $287,027.16. Following the completion of the sale, the chief operating officer now directly owns 180,551 shares in the company, valued at approximately $4,827,933.74. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

Shares of Tanger Factory Outlet Centers, Inc. (NYSE SKT) traded up 0.04% on Friday, reaching $25.02. The company’s stock had a trading volume of 335,904 shares. The stock has a market cap of $2.38 billion, a PE ratio of 16.61 and a beta of 0.49. The company’s 50 day moving average is $24.31 and its 200-day moving average is $27.21. Tanger Factory Outlet Centers, Inc. has a 1-year low of $23.06 and a 1-year high of $37.54.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The firm had revenue of $119.60 million for the quarter, compared to the consensus estimate of $122.00 million. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts predict that Tanger Factory Outlet Centers, Inc. will post $0.77 earnings per share for the current fiscal year.

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Several brokerages have weighed in on SKT. BidaskClub raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. KeyCorp reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $26.00 target price on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. Citigroup Inc. raised Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research report on Monday, June 12th. Finally, Boenning Scattergood set a $25.00 target price on Tanger Factory Outlet Centers and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $30.50.

Tanger Factory Outlet Centers Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

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

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