Brokerages Set Tanger Factory Outlet Centers Inc. (SKT) PT at $27.50

Tanger Factory Outlet Centers Inc. (NYSE:SKT) has received an average rating of “Hold” from the ten analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $27.50.

A number of analysts recently issued reports on SKT shares. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Bank of America raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Citigroup lowered their target price on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a research report on Friday, November 10th.

In related news, CMO Carrie A. Geldner sold 2,250 shares of Tanger Factory Outlet Centers stock in a transaction dated 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 owns 51,261 shares in the company, valued at $1,255,894.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. grew its holdings in Tanger Factory Outlet Centers by 6.5% during the second quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 303 shares during the period. Salem Investment Counselors Inc. grew its holdings in Tanger Factory Outlet Centers by 164.2% during the second quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 3,045 shares during the period. Capital Advisors Ltd. LLC bought a new position in Tanger Factory Outlet Centers during the third quarter worth about $134,000. Riverhead Capital Management LLC grew its holdings in Tanger Factory Outlet Centers by 101.5% during the second quarter. Riverhead Capital Management LLC now owns 7,859 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 3,959 shares during the period. Finally, Telemus Capital LLC bought a new position in Tanger Factory Outlet Centers during the third quarter worth about $244,000. Institutional investors and hedge funds own 99.47% of the company’s stock.

Tanger Factory Outlet Centers (NYSE:SKT) traded up $0.79 during trading hours on Friday, hitting $25.84. The company had a trading volume of 1,670,000 shares, compared to its average volume of 1,290,000. 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 capitalization of $2,440.00, a P/E ratio of 41.68, a P/E/G ratio of 3.20 and a beta of 0.52. Tanger Factory Outlet Centers has a twelve month low of $21.81 and a twelve month high of $35.22.

Tanger Factory Outlet Centers (NYSE:SKT) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.77). Tanger Factory Outlet Centers had a net margin of 12.34% and a return on equity of 8.98%. research analysts anticipate that Tanger Factory Outlet Centers will post 2.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.343 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.37 dividend on an annualized basis and a yield of 5.31%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 220.97%.

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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.

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

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