Tanger Factory Outlet Centers, Inc. (NYSE:SKT) has been given a consensus rating of “Hold” by the eleven analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $28.33.

Several brokerages have recently commented on SKT. 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 stock a “sell” rating in a research note on Thursday, August 3rd. KeyCorp reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $26.00 price target on shares of Tanger Factory Outlet Centers in a research note on Thursday, September 21st.

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In other news, SVP Carrie A. Geldner sold 1,800 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total transaction of $43,524.00. Following the completion of the sale, the senior vice president now directly owns 53,511 shares in the company, valued at approximately $1,293,895.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SKT. Principal Financial Group Inc. lifted its position in shares of Tanger Factory Outlet Centers by 199.1% during the 2nd quarter. Principal Financial Group Inc. now owns 3,947,025 shares of the real estate investment trust’s stock valued at $102,543,000 after acquiring an additional 2,627,566 shares during the period. State Street Corp lifted 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 acquiring an additional 1,140,291 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Tanger Factory Outlet Centers by 278.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 678,150 shares of the real estate investment trust’s stock valued at $17,618,000 after acquiring an additional 498,985 shares during the period. BlueCrest Capital Management Ltd lifted 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 acquiring an additional 496,493 shares during the period. Finally, Numeric Investors LLC bought a new stake in shares of Tanger Factory Outlet Centers during the 2nd quarter valued at $12,855,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Shares of Tanger Factory Outlet Centers (NYSE:SKT) traded down $1.20 during midday trading on Friday, hitting $22.46. The stock had a trading volume of 4,547,723 shares, compared to its average volume of 1,645,970. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.12 and a quick ratio of 0.12. Tanger Factory Outlet Centers has a one year low of $21.81 and a one year high of $37.34. The company has a market cap of $2,132.76, a P/E ratio of 9.36, a P/E/G ratio of 2.61 and a beta of 0.47.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a $0.3425 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.37 annualized dividend and a yield of 6.10%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 90.73%.

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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