Utah Retirement Systems increased its position in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,185 shares of the real estate investment trust’s stock after buying an additional 200 shares during the period. Utah Retirement Systems’ holdings in Tanger Factory Outlet Centers were worth $694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Tanger Factory Outlet Centers by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 1,999,587 shares of the real estate investment trust’s stock worth $65,526,000 after buying an additional 89,741 shares during the period. Crawford Investment Counsel Inc. boosted its position in Tanger Factory Outlet Centers by 2.5% in the first quarter. Crawford Investment Counsel Inc. now owns 1,686,299 shares of the real estate investment trust’s stock worth $55,260,000 after buying an additional 41,177 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Tanger Factory Outlet Centers by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,327,331 shares of the real estate investment trust’s stock worth $47,490,000 after buying an additional 7,400 shares in the last quarter. FMR LLC boosted its position in Tanger Factory Outlet Centers by 57.4% in the fourth quarter. FMR LLC now owns 1,201,600 shares of the real estate investment trust’s stock worth $42,993,000 after buying an additional 438,200 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Tanger Factory Outlet Centers by 10.5% in the first quarter. Russell Investments Group Ltd. now owns 1,037,134 shares of the real estate investment trust’s stock worth $33,989,000 after buying an additional 98,602 shares in the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

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

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) opened at 25.33 on Friday. The company has a 50 day moving average price of $26.61 and a 200-day moving average price of $32.00. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 12.93 and a beta of 0.46. Tanger Factory Outlet Centers, Inc. has a 1-year low of $24.71 and a 1-year high of $42.20.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.35. Tanger Factory Outlet Centers had a return on equity of 27.05% and a net margin of 39.32%. The company had revenue of $121.37 million for the quarter, compared to the consensus estimate of $122.59 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. Tanger Factory Outlet Centers’s revenue was up 9.5% compared to the same quarter last year. On average, analysts forecast that Tanger Factory Outlet Centers, Inc. will post $1.01 EPS for the current fiscal year.

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A number of research analysts have issued reports on SKT shares. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, March 29th. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and reduced their price target for the stock from $38.00 to $29.00 in a report on Friday, June 16th. Citigroup Inc. upgraded Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a report on Monday, June 12th. Finally, Evercore ISI upgraded Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a report on Friday, March 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $36.08.

In other news, EVP Chad Perry sold 8,000 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $27.57, for a total value of $220,560.00. Following the sale, the executive vice president now directly owns 78,112 shares in the company, valued at approximately $2,153,547.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Allan L. Schuman sold 32,930 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $28.52, for a total value of $939,163.60. Following the completion of the sale, the director now owns 43,953 shares in the company, valued at $1,253,539.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,339 shares of company stock worth $1,499,994. Corporate insiders own 2.10% 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.

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