The Manufacturers Life Insurance Company increased its stake in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 142,092 shares of the real estate investment trust’s stock after buying an additional 2,704 shares during the period. The Manufacturers Life Insurance Company owned 0.15% of Tanger Factory Outlet Centers worth $3,691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SKT. RMR Advisors LLC purchased a new stake in shares of Tanger Factory Outlet Centers in the 2nd quarter worth approximately $114,000. Advisor Group Inc. grew its stake in shares of Tanger Factory Outlet Centers by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 303 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Tanger Factory Outlet Centers by 164.2% in the 2nd quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 3,045 shares during the last quarter. LS Investment Advisors LLC grew its stake in shares of Tanger Factory Outlet Centers by 19.9% in the 2nd quarter. LS Investment Advisors LLC now owns 7,629 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 1,266 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in shares of Tanger Factory Outlet Centers by 101.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,859 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 3,959 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

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

Several analysts have commented on SKT shares. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. 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. Jefferies Group LLC reiterated a “hold” rating and set a $26.00 target price on shares of Tanger Factory Outlet Centers in a research note on Thursday, September 21st. KeyCorp reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Finally, BidaskClub downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $28.60.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Tanger Factory Outlet Centers had a net margin of 29.65% and a return on equity of 20.75%. The business had revenue of $119.60 million for the quarter, compared to analyst estimates of $122.00 million. During the same period in the previous year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Monday, October 30th. 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.

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

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