Tanger Factory Outlet Centers, Inc. (NYSE:SKT) had its target price decreased by Citigroup Inc. from $27.00 to $25.00 in a report published on Friday morning. Citigroup Inc. currently has a sell rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. BidaskClub upgraded Tanger Factory Outlet Centers from a sell rating to a hold rating in a research note on Friday, August 4th. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a sell rating to a hold rating in a research note on Saturday, July 15th. Boenning Scattergood set a $25.00 target price on Tanger Factory Outlet Centers and gave the company a sell rating in a research note on Thursday, August 3rd. Bank of America Corporation upgraded Tanger Factory Outlet Centers from an underperform rating to a neutral rating in a research note on Thursday, November 9th. Finally, KeyCorp reiterated a hold rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $27.00.

Tanger Factory Outlet Centers (NYSE SKT) traded up $0.22 on Friday, reaching $24.49. The company’s stock had a trading volume of 2,146,100 shares, compared to its average volume of 1,585,165. Tanger Factory Outlet Centers has a 52 week low of $21.81 and a 52 week high of $37.34. 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 stock has a market capitalization of $2,310.00, a price-to-earnings ratio of 11.84, a PEG ratio of 3.30 and a beta of 0.47.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.3425 per share. The ex-dividend date is Monday, October 30th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.59%. Tanger Factory Outlet Centers’s payout ratio is 220.97%.

In other news, SVP Carrie A. Geldner sold 1,800 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total transaction of $43,524.00. Following the sale, the senior vice president now owns 53,511 shares in the company, valued at $1,293,895.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of SKT. Teachers Advisors LLC grew its stake in shares of Tanger Factory Outlet Centers by 17.1% during the first quarter. Teachers Advisors LLC now owns 203,579 shares of the real estate investment trust’s stock worth $6,671,000 after acquiring an additional 29,696 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Tanger Factory Outlet Centers by 3.5% during the first quarter. PNC Financial Services Group Inc. now owns 10,105 shares of the real estate investment trust’s stock worth $331,000 after acquiring an additional 344 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Tanger Factory Outlet Centers by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,340,529 shares of the real estate investment trust’s stock worth $43,930,000 after purchasing an additional 13,198 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Tanger Factory Outlet Centers by 47.2% during the first quarter. AQR Capital Management LLC now owns 51,112 shares of the real estate investment trust’s stock worth $1,675,000 after purchasing an additional 16,396 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Tanger Factory Outlet Centers during the second quarter worth about $468,000. Institutional investors and hedge funds own 96.53% of the company’s stock.

Tanger Factory Outlet Centers Company 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.

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

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