JPMorgan Chase & Co. reduced its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 33.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 133,127 shares of the real estate investment trust’s stock after selling 68,065 shares during the quarter. JPMorgan Chase & Co. owned about 0.14% of Tanger Factory Outlet Centers worth $3,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in Tanger Factory Outlet Centers by 11.2% in the second quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock worth $293,533,000 after purchasing an additional 1,140,291 shares during the period. Principal Financial Group Inc. grew its position in shares of Tanger Factory Outlet Centers by 29.5% during the 3rd quarter. Principal Financial Group Inc. now owns 5,110,454 shares of the real estate investment trust’s stock worth $124,797,000 after buying an additional 1,163,429 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Tanger Factory Outlet Centers by 4.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,556,803 shares of the real estate investment trust’s stock worth $62,437,000 after buying an additional 115,480 shares in the last quarter. First Manhattan Co. grew its position in shares of Tanger Factory Outlet Centers by 32.1% during the 3rd quarter. First Manhattan Co. now owns 1,408,982 shares of the real estate investment trust’s stock worth $34,407,000 after buying an additional 342,144 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Tanger Factory Outlet Centers by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,376,676 shares of the real estate investment trust’s stock worth $35,768,000 after buying an additional 36,147 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

In other news, CMO Carrie A. Geldner sold 2,250 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the sale, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) opened at $25.63 on Friday. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $2,420.00, a P/E ratio of 41.34, a PEG ratio of 3.36 and a beta of 0.52. Tanger Factory Outlet Centers Inc. has a 12-month low of $21.81 and a 12-month high of $37.34.

SKT has been the topic of a number of recent research reports. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Jefferies Group reaffirmed a “hold” rating and set a $26.00 price objective on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. Citigroup dropped their price objective on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a research report on Friday, November 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Finally, Bank of America raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Tanger Factory Outlet Centers has a consensus rating of “Hold” and a consensus target price of $26.60.

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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.

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

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