Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.50.

SKT has been the topic of a number of research analyst reports. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Zacks Investment Research cut Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Bank of America upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Jefferies Group reiterated a “hold” rating and issued a $26.00 target price on shares of Tanger Factory Outlet Centers in a report on Thursday, September 21st.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the stock in a transaction 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 completion of the sale, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at approximately $1,255,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased 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 valued at $124,797,000 after purchasing an additional 1,163,429 shares during the last quarter. State Street Corp increased its position in shares of Tanger Factory Outlet Centers by 11.2% during the 2nd quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock valued at $293,533,000 after purchasing an additional 1,140,291 shares during the last quarter. BlueCrest Capital Management Ltd increased its position in shares of Tanger Factory Outlet Centers by 774.8% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 560,577 shares of the real estate investment trust’s stock valued at $14,564,000 after purchasing an additional 496,493 shares during the last quarter. Numeric Investors LLC purchased a new stake in shares of Tanger Factory Outlet Centers during the 2nd quarter valued at $12,855,000. Finally, Wells Fargo & Company MN increased its position in shares of Tanger Factory Outlet Centers by 352.5% during the 3rd quarter. Wells Fargo & Company MN now owns 553,927 shares of the real estate investment trust’s stock valued at $13,526,000 after purchasing an additional 431,513 shares during the last quarter.

Tanger Factory Outlet Centers (NYSE SKT) traded down $0.25 during trading on Friday, hitting $24.89. The company’s stock had a trading volume of 995,500 shares, compared to its average volume of 1,303,150. The company has a market cap of $2,350.00, a PE ratio of 40.15, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52. Tanger Factory Outlet Centers has a 52-week low of $21.81 and a 52-week high of $35.80. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.77). Tanger Factory Outlet Centers had a return on equity of 8.98% and a net margin of 12.34%. sell-side analysts expect that Tanger Factory Outlet Centers will post 2.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.343 dividend. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend is Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio is presently 220.97%.

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About Tanger Factory Outlet Centers

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.

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

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