Tanger Factory Outlet Centers, Inc. (SKT) Position Increased by Dean Capital Management

Dean Capital Management boosted its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 141.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,550 shares of the real estate investment trust’s stock after purchasing an additional 81,090 shares during the quarter. Tanger Factory Outlet Centers accounts for approximately 1.7% of Dean Capital Management’s holdings, making the stock its 22nd biggest position. Dean Capital Management owned 0.15% of Tanger Factory Outlet Centers worth $3,599,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. RMR Advisors LLC acquired a new position in Tanger Factory Outlet Centers during the 2nd quarter valued at $114,000. Salem Investment Counselors Inc. raised its stake in Tanger Factory Outlet Centers by 164.2% during the 2nd quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 3,045 shares during the last quarter. Advisor Group Inc. raised its stake in Tanger Factory Outlet Centers by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 303 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Tanger Factory Outlet Centers by 9.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,513 shares of the real estate investment trust’s stock valued at $246,000 after purchasing an additional 649 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in Tanger Factory Outlet Centers by 19.9% during the 2nd quarter. LS Investment Advisors LLC now owns 7,629 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 96.82% of the company’s stock.

In related news, SVP Carrie A. Geldner sold 1,800 shares of Tanger Factory Outlet Centers stock in a transaction that occurred 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 sale, the senior vice president now directly owns 53,511 shares in the company, valued at $1,293,895.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas E. Mcdonough sold 10,734 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $26.74, for a total value of $287,027.16. Following the sale, the chief operating officer now owns 180,551 shares in the company, valued at $4,827,933.74. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

SKT has been the subject of several research analyst reports. Bank of America Corporation cut shares of Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and cut their target price for the company from $28.00 to $25.50 in a research note on Friday, June 23rd. Zacks Investment Research upgraded shares of 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 shares of Tanger Factory Outlet Centers and gave the company a “sell” rating in a research note on Thursday, August 3rd. Jefferies Group LLC cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and cut their target price for the company from $38.00 to $29.00 in a research note on Friday, June 16th. Finally, BidaskClub upgraded shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Tanger Factory Outlet Centers currently has a consensus rating of “Hold” and an average price target of $30.50.

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Shares of Tanger Factory Outlet Centers, Inc. (NYSE SKT) traded down 1.19% during trading on Thursday, hitting $25.00. 519,787 shares of the stock were exchanged. Tanger Factory Outlet Centers, Inc. has a 1-year low of $23.06 and a 1-year high of $37.34. The company has a market cap of $2.38 billion, a P/E ratio of 16.60 and a beta of 0.49. The firm’s 50-day moving average is $24.43 and its 200 day moving average is $26.97.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. The firm had revenue of $119.60 million for the quarter, compared to analyst estimates of $122.00 million. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. Equities analysts forecast that Tanger Factory Outlet Centers, Inc. will post $0.77 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a $0.3425 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.42%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 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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