Boenning Scattergood upgraded shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) from an under perform rating to a neutral rating in a research report report published on Friday morning, Marketbeat reports.

A number of other research firms also recently commented on SKT. Zacks Investment Research raised Tanger Factory Outlet Centers from a sell rating to a hold rating in a research note on Saturday, July 15th. BidaskClub raised Tanger Factory Outlet Centers from a sell rating to a hold rating in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed 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. Finally, KeyCorp reaffirmed a hold rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $28.60.

Shares of Tanger Factory Outlet Centers (NYSE:SKT) opened at $22.63 on Friday. The firm has a market capitalization of $2,110.00, a price-to-earnings ratio of 9.36, a PEG ratio of 2.61 and a beta of 0.47. Tanger Factory Outlet Centers has a twelve month low of $21.81 and a twelve month high of $37.34. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 2.62.

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The business 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. This represents a $1.37 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Monday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 91.33%.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of Tanger Factory Outlet Centers stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total value of $43,524.00. Following the transaction, the senior vice president now owns 53,511 shares in the company, valued at $1,293,895.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. RMR Advisors LLC bought a new position in Tanger Factory Outlet Centers in the second quarter valued at about $114,000. Advisor Group Inc. grew its position in Tanger Factory Outlet Centers by 6.5% in the second quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 303 shares during the last quarter. Salem Investment Counselors Inc. grew its position in Tanger Factory Outlet Centers by 164.2% in the second quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 3,045 shares during the last quarter. Capital Advisors Ltd. LLC bought a new position in Tanger Factory Outlet Centers in the third quarter valued at about $134,000. Finally, LS Investment Advisors LLC grew its position in Tanger Factory Outlet Centers by 19.9% in the second quarter. LS Investment Advisors LLC now owns 7,629 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 96.91% of the company’s stock.

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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