Hsbc Holdings PLC Boosts Stock Position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Hsbc Holdings PLC increased its position in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 66.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,815 shares of the real estate investment trust’s stock after acquiring an additional 32,704 shares during the period. Hsbc Holdings PLC owned about 0.08% of Tanger Factory Outlet Centers worth $1,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of Tanger Factory Outlet Centers during the second quarter worth about $26,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Tanger Factory Outlet Centers by 44.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,552 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 785 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Tanger Factory Outlet Centers during the 2nd quarter worth approximately $50,000. Point72 Hong Kong Ltd acquired a new stake in Tanger Factory Outlet Centers during the 1st quarter worth approximately $74,000. Finally, Newbridge Financial Services Group Inc. boosted its position in Tanger Factory Outlet Centers by 683.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 7,923 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 6,912 shares during the period. 74.61% of the stock is currently owned by hedge funds and other institutional investors.

Tanger Factory Outlet Centers Price Performance

Shares of SKT opened at $18.96 on Friday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.16 and a beta of 1.81. The firm’s fifty day simple moving average is $18.47 and its 200-day simple moving average is $17.54. Tanger Factory Outlet Centers, Inc. has a twelve month low of $13.26 and a twelve month high of $20.27. The company has a current ratio of 2.53, a quick ratio of 2.36 and a debt-to-equity ratio of 2.78.

Tanger Factory Outlet Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st were given a dividend of $0.22 per share. The ex-dividend date was Monday, January 30th. This represents a $0.88 annualized dividend and a dividend yield of 4.64%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 114.29%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Compass Point cut Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research note on Monday, January 30th. Citigroup lifted their price objective on Tanger Factory Outlet Centers from $15.00 to $20.00 in a research note on Wednesday, December 14th.

Tanger Factory Outlet Centers Profile

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Tanger Factory Outlet Centers, Inc is a fully-integrated, self-administered and self-managed real estate investment trust. It focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.