Tanger Factory Outlet Centers Inc. (SKT) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP lowered its position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 9.8% in the third quarter, Holdings Channel reports. The fund owned 130,723 shares of the real estate investment trust’s stock after selling 14,214 shares during the quarter. Stevens Capital Management LP’s holdings in Tanger Factory Outlet Centers were worth $2,991,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SKT. Bank of Montreal Can raised its position in Tanger Factory Outlet Centers by 111.5% in the 2nd quarter. Bank of Montreal Can now owns 44,867 shares of the real estate investment trust’s stock worth $1,054,000 after purchasing an additional 23,652 shares during the last quarter. Dupont Capital Management Corp raised its position in Tanger Factory Outlet Centers by 111.2% in the 2nd quarter. Dupont Capital Management Corp now owns 58,545 shares of the real estate investment trust’s stock worth $1,375,000 after purchasing an additional 30,831 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Tanger Factory Outlet Centers by 10.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 100,726 shares of the real estate investment trust’s stock worth $2,366,000 after purchasing an additional 9,343 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Tanger Factory Outlet Centers by 2.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 94,223 shares of the real estate investment trust’s stock worth $2,213,000 after purchasing an additional 2,268 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Tanger Factory Outlet Centers by 10.1% in the 2nd quarter. Wells Fargo & Company MN now owns 763,129 shares of the real estate investment trust’s stock worth $17,925,000 after purchasing an additional 69,805 shares during the last quarter. Hedge funds and other institutional investors own 99.14% of the company’s stock.

Several research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Tanger Factory Outlet Centers in a research report on Tuesday, October 16th. They issued an “underperform” rating for the company. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday, November 22nd. ValuEngine upgraded shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 1st. Finally, Citigroup boosted their price objective on shares of Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the stock a “neutral” rating in a research report on Thursday, August 16th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $22.88.

In other Tanger Factory Outlet Centers news, EVP Chad Perry sold 2,500 shares of the company’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $23.26, for a total transaction of $58,150.00. Following the completion of the sale, the executive vice president now owns 86,517 shares in the company, valued at approximately $2,012,385.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lisa J. Morrison sold 8,500 shares of the company’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $23.89, for a total transaction of $203,065.00. Following the sale, the vice president now owns 41,167 shares of the company’s stock, valued at approximately $983,479.63. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock valued at $382,352 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

SKT stock opened at $23.65 on Monday. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.06 and a quick ratio of 0.06. Tanger Factory Outlet Centers Inc. has a fifty-two week low of $19.86 and a fifty-two week high of $26.73. The company has a market capitalization of $2.22 billion, a P/E ratio of 9.61, a P/E/G ratio of 1.90 and a beta of 0.46.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $124.24 million during the quarter, compared to analysts’ expectations of $119.47 million. Tanger Factory Outlet Centers had a net margin of 11.16% and a return on equity of 9.57%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, sell-side analysts forecast that Tanger Factory Outlet Centers Inc. will post 2.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend was Tuesday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 56.91%.

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About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 510 different brand name companies.

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

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