Cambridge Investment Research Advisors Inc. decreased its stake in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,534 shares of the real estate investment trust’s stock after selling 1,226 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Tanger Factory Outlet Centers were worth $254,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in SKT. Granite Investment Partners LLC purchased a new position in Tanger Factory Outlet Centers during the second quarter worth approximately $12,621,000. State Street Corp raised its position in Tanger Factory Outlet Centers by 12.6% in the first quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock valued at $107,480,000 after purchasing an additional 700,755 shares during the period. Renaissance Technologies LLC raised its position in Tanger Factory Outlet Centers by 63.8% in the first quarter. Renaissance Technologies LLC now owns 806,242 shares of the real estate investment trust’s stock valued at $13,859,000 after purchasing an additional 313,979 shares during the period. Northern Trust Corp raised its position in Tanger Factory Outlet Centers by 18.7% in the second quarter. Northern Trust Corp now owns 1,860,537 shares of the real estate investment trust’s stock valued at $26,456,000 after purchasing an additional 293,071 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Tanger Factory Outlet Centers in the second quarter valued at $2,005,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.
In related news, insider Steven B. Tanger sold 50,000 shares of the business’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $19.50, for a total transaction of $975,000.00. Following the completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company’s stock.
Analyst Ratings Changes
Tanger Factory Outlet Centers Trading Down 0.6 %
Shares of NYSE SKT opened at $18.47 on Friday. Tanger Factory Outlet Centers, Inc. has a twelve month low of $13.26 and a twelve month high of $19.91. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 2.71. The stock has a fifty day simple moving average of $18.69 and a 200-day simple moving average of $16.80. The stock has a market capitalization of $1.93 billion, a PE ratio of 25.65, a PEG ratio of 1.14 and a beta of 1.80.
Tanger Factory Outlet Centers Profile
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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