Texas Permanent School Fund Increases Stake in Tanger Factory Outlet Centers Inc. (SKT)

Texas Permanent School Fund grew its position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 61,452 shares of the real estate investment trust’s stock after acquiring an additional 2,365 shares during the period. Texas Permanent School Fund’s holdings in Tanger Factory Outlet Centers were worth $1,243,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Tanger Factory Outlet Centers by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,761,548 shares of the real estate investment trust’s stock valued at $41,378,000 after buying an additional 116,626 shares in the last quarter. First Trust Advisors LP increased its position in Tanger Factory Outlet Centers by 16.3% during the 3rd quarter. First Trust Advisors LP now owns 42,019 shares of the real estate investment trust’s stock valued at $961,000 after buying an additional 5,880 shares in the last quarter. American Century Companies Inc. increased its position in Tanger Factory Outlet Centers by 32.6% during the 3rd quarter. American Century Companies Inc. now owns 479,109 shares of the real estate investment trust’s stock valued at $10,962,000 after buying an additional 117,753 shares in the last quarter. Dupont Capital Management Corp increased its position in Tanger Factory Outlet Centers by 25.2% during the 3rd quarter. Dupont Capital Management Corp now owns 73,285 shares of the real estate investment trust’s stock valued at $1,677,000 after buying an additional 14,740 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Tanger Factory Outlet Centers during the 3rd quarter valued at about $1,373,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of SKT stock traded down $0.70 during mid-day trading on Friday, reaching $20.10. The stock had a trading volume of 87,997 shares, compared to its average volume of 1,087,384. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market capitalization of $1.94 billion, a PE ratio of 8.13, a P/E/G ratio of 39.34 and a beta of 0.78. Tanger Factory Outlet Centers Inc. has a 1-year low of $19.76 and a 1-year high of $24.91.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.42). The firm had revenue of $124.03 million during the quarter, compared to analyst estimates of $121.44 million. Tanger Factory Outlet Centers had a net margin of 8.76% and a return on equity of 7.88%. Sell-side analysts forecast that Tanger Factory Outlet Centers Inc. will post 2.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.355 dividend. The ex-dividend date is Monday, April 29th. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.35. This represents a $1.42 dividend on an annualized basis and a dividend yield of 7.06%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 56.45%.

SKT has been the topic of several recent analyst reports. Zacks Investment Research raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, November 22nd. ValuEngine raised Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 6th. JPMorgan Chase & Co. lowered Tanger Factory Outlet Centers from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $24.00 to $22.00 in a research report on Wednesday, December 19th. Finally, Citigroup set a $23.00 target price on Tanger Factory Outlet Centers and gave the company a “hold” rating in a research report on Tuesday, February 26th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has a consensus rating of “Sell” and a consensus target price of $22.25.

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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 530 different brand name companies.

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

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