Tanger Factory Outlet Centers Inc. to Post Q4 2017 Earnings of $0.64 Per Share, KeyCorp Forecasts (SKT)

Tanger Factory Outlet Centers Inc. (NYSE:SKT) – Investment analysts at KeyCorp issued their Q4 2017 earnings per share (EPS) estimates for shares of Tanger Factory Outlet Centers in a report issued on Wednesday. KeyCorp analyst T. Thomas expects that the real estate investment trust will earn $0.64 per share for the quarter. KeyCorp also issued estimates for Tanger Factory Outlet Centers’ Q1 2018 earnings at $0.63 EPS.

Other research analysts have also recently issued reports about the company. Bank of America raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Boenning Scattergood raised Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research report on Friday, November 3rd. Zacks Investment Research cut Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Finally, Citigroup reduced their target price on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $26.60.

Tanger Factory Outlet Centers (SKT) traded up $0.48 on Monday, hitting $25.89. The stock had a trading volume of 1,278,200 shares, compared to its average volume of 1,557,057. Tanger Factory Outlet Centers has a 12 month low of $21.81 and a 12 month high of $37.34. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.91. The company has a market capitalization of $2,450.00, a PE ratio of 41.76, a price-to-earnings-growth 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 Tanger Factory Outlet Centers stock in a transaction on Tuesday, November 28th. The stock was 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 of the company’s stock, valued at $1,255,894.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in shares of Tanger Factory Outlet Centers by 22.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,441,323 shares of the real estate investment trust’s stock valued at $63,426,000 after acquiring an additional 441,736 shares during the period. Stephens Inc. AR bought a new stake in shares of Tanger Factory Outlet Centers during the 3rd quarter valued at $309,000. State Street Corp lifted its position in shares of Tanger Factory Outlet Centers by 11.2% during the 2nd quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock valued at $293,533,000 after acquiring an additional 1,140,291 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Tanger Factory Outlet Centers by 4.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 44,673 shares of the real estate investment trust’s stock valued at $1,161,000 after acquiring an additional 2,014 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Tanger Factory Outlet Centers by 199.1% during the 2nd quarter. Principal Financial Group Inc. now owns 3,947,025 shares of the real estate investment trust’s stock valued at $102,543,000 after acquiring an additional 2,627,566 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

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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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