Steven B. Tanger Sells 50,000 Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Stock

Tanger Factory Outlet Centers, Inc. (NYSE:SKTGet Rating) insider Steven B. Tanger sold 50,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $19.50, for a total value of $975,000.00. Following the transaction, the insider now owns 1,349,686 shares of the company’s stock, valued at approximately $26,318,877. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Tanger Factory Outlet Centers Trading Up 1.5 %

Shares of NYSE SKT opened at $19.51 on Friday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market capitalization of $2.04 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 1.22 and a beta of 1.83. Tanger Factory Outlet Centers, Inc. has a 1-year low of $13.26 and a 1-year high of $21.79. The business has a fifty day moving average price of $16.42 and a 200 day moving average price of $16.16.

Tanger Factory Outlet Centers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were given a dividend of $0.22 per share. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend was Friday, October 28th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 122.22%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp increased its position in Tanger Factory Outlet Centers by 6.0% during the 3rd quarter. M&T Bank Corp now owns 10,623 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 602 shares in the last quarter. BNP Paribas Arbitrage SNC increased its position in Tanger Factory Outlet Centers by 68.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 67,180 shares of the real estate investment trust’s stock valued at $919,000 after buying an additional 27,410 shares in the last quarter. Neuberger Berman Group LLC increased its position in Tanger Factory Outlet Centers by 507.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 503,989 shares of the real estate investment trust’s stock valued at $6,895,000 after buying an additional 421,062 shares in the last quarter. Algert Global LLC increased its position in Tanger Factory Outlet Centers by 17.6% during the 3rd quarter. Algert Global LLC now owns 62,020 shares of the real estate investment trust’s stock valued at $848,000 after buying an additional 9,285 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Tanger Factory Outlet Centers by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 107,890 shares of the real estate investment trust’s stock valued at $1,476,000 after buying an additional 5,327 shares in the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SKT shares. Evercore ISI dropped their price objective on Tanger Factory Outlet Centers from $17.00 to $15.00 in a report on Tuesday, September 27th. StockNews.com started coverage on Tanger Factory Outlet Centers in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Tanger Factory Outlet Centers Company Profile

(Get Rating)

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.

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