Pensionfund Sabic Sells 10,000 Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT)


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Pensionfund Sabic lowered its position in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 35.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,500 shares of the real estate investment trust’s stock after selling 10,000 shares during the quarter. Pensionfund Sabic’s holdings in Tanger Factory Outlet Centers were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of Tanger Factory Outlet Centers by 5.4% during the 4th quarter. Victory Capital Management Inc. now owns 15,656 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 797 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Tanger Factory Outlet Centers by 33.2% during the 4th quarter. Van ECK Associates Corp now owns 3,638 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 907 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of Tanger Factory Outlet Centers by 45.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 3,200 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,000 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Tanger Factory Outlet Centers by 0.8% in the 4th quarter. LPL Financial LLC now owns 142,094 shares of the real estate investment trust’s stock worth $1,415,000 after purchasing an additional 1,180 shares during the period. Finally, Mid Atlantic Financial Management Inc. ADV raised its holdings in shares of Tanger Factory Outlet Centers by 11.6% in the 4th quarter. Mid Atlantic Financial Management Inc. ADV now owns 14,430 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 1,500 shares during the period. 73.45% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $12.50 price target (up previously from $11.00) on shares of Tanger Factory Outlet Centers in a report on Monday, March 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Tanger Factory Outlet Centers from $6.00 to $10.50 in a report on Tuesday, December 15th. Smith Barney Citigroup lifted their price target on shares of Tanger Factory Outlet Centers from $6.00 to $10.50 in a report on Tuesday, December 15th. Finally, Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Saturday, January 16th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.64.

Tanger Factory Outlet Centers stock opened at $16.00 on Thursday. Tanger Factory Outlet Centers, Inc. has a 1-year low of $5.00 and a 1-year high of $22.40. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -399.90 and a beta of 2.10. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 4.49. The firm has a 50 day simple moving average of $16.11 and a 200 day simple moving average of $11.29.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Wednesday, February 17th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.14). Tanger Factory Outlet Centers had a negative net margin of 0.76% and a negative return on equity of 0.82%. On average, equities research analysts forecast that Tanger Factory Outlet Centers, Inc. will post 1.42 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Friday, January 29th were paid a $0.1775 dividend. The ex-dividend date was Thursday, January 28th. This represents a $0.71 dividend on an annualized basis and a yield of 4.44%. Tanger Factory Outlet Centers’s dividend payout ratio is 31.28%.

In other news, Director Thomas Reddin sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $17.50, for a total transaction of $175,000.00. Also, CMO Carrie A. Warren sold 4,087 shares of the business’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $17.81, for a total transaction of $72,789.47. Insiders sold a total of 15,087 shares of company stock valued at $265,449 over the last quarter. 2.20% of the stock is owned by company insiders.

Tanger Factory Outlet Centers Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.

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

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