Tanger Factory Outlet Centers (SKT) Stock Rating Reaffirmed by Jefferies Group

Tanger Factory Outlet Centers (NYSE:SKT)‘s stock had its “hold” rating reissued by Jefferies Group in a report issued on Friday. They presently have a $24.00 price target on the real estate investment trust’s stock. Jefferies Group’s target price suggests a potential downside of 5.55% from the stock’s previous close. Jefferies Group also issued estimates for Tanger Factory Outlet Centers’ FY2018 earnings at $2.45 EPS and FY2019 earnings at $2.50 EPS.

Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Citigroup reduced their target price on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research note on Friday, November 10th. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, November 9th. KeyCorp restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Finally, Bank of America upgraded shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $26.60.

Shares of Tanger Factory Outlet Centers (NYSE:SKT) opened at $25.41 on Friday. Tanger Factory Outlet Centers has a 52 week low of $21.81 and a 52 week high of $37.34. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.91. The firm has a market cap of $2,400.00, a P/E ratio of 40.98, a P/E/G ratio of 3.36 and a beta of 0.52.

In other Tanger Factory Outlet Centers news, CMO Carrie A. Geldner sold 2,250 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total transaction of $55,125.00. Following the completion of the transaction, the chief marketing officer now directly owns 51,261 shares in the company, valued at approximately $1,255,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Salem Investment Counselors Inc. boosted its position in shares of 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 worth $127,000 after acquiring an additional 3,045 shares during the last quarter. Advisor Group Inc. boosted its position in shares of 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 worth $116,000 after acquiring an additional 303 shares during the last quarter. Capital Advisors Ltd. LLC acquired a new stake in shares of Tanger Factory Outlet Centers in the third quarter worth approximately $134,000. Riverhead Capital Management LLC boosted its position in shares of Tanger Factory Outlet Centers by 101.5% in the second quarter. Riverhead Capital Management LLC now owns 7,859 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 3,959 shares during the last quarter. Finally, BB&T Securities LLC boosted its position in shares of Tanger Factory Outlet Centers by 6.2% in the second quarter. BB&T Securities LLC now owns 8,575 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 501 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Tanger Factory Outlet Centers (SKT) Stock Rating Reaffirmed by Jefferies Group” was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another publication, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this article can be read at https://www.com-unik.info/2017/12/24/tanger-factory-outlet-centers-skt-stock-rating-reaffirmed-by-jefferies-group.html.

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)

Receive News & Ratings for Tanger Factory Outlet Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit