Teachers Insurance & Annuity Association of America Acquires Shares of 120,333 Tanger Factory Outlet Centers (SKT)

Teachers Insurance & Annuity Association of America bought a new position in shares of Tanger Factory Outlet Centers (NYSE:SKT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 120,333 shares of the real estate investment trust’s stock, valued at approximately $2,647,000. Teachers Insurance & Annuity Association of America owned about 0.13% of Tanger Factory Outlet Centers as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in Tanger Factory Outlet Centers by 69.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,963 shares of the real estate investment trust’s stock worth $185,000 after acquiring an additional 2,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tanger Factory Outlet Centers by 34.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 2,107 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new stake in Tanger Factory Outlet Centers during the fourth quarter worth $263,000. Lido Advisors LLC acquired a new stake in Tanger Factory Outlet Centers during the fourth quarter worth $265,000. Finally, Vident Investment Advisory LLC acquired a new stake in Tanger Factory Outlet Centers during the fourth quarter worth $296,000.

Several research firms have issued reports on SKT. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, May 3rd. KeyCorp cut Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 target price for the company. in a research note on Wednesday, May 2nd. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, Evercore ISI cut Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a research note on Thursday, February 15th. Five analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and a consensus target price of $23.70.

In other news, COO Thomas E. Mcdonough sold 11,276 shares of Tanger Factory Outlet Centers stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $22.55, for a total value of $254,273.80. Following the completion of the sale, the chief operating officer now directly owns 159,088 shares of the company’s stock, valued at $3,587,434.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Virginia R. Summerell sold 5,800 shares of Tanger Factory Outlet Centers stock in a transaction on Monday, February 26th. The shares were sold at an average price of $22.90, for a total value of $132,820.00. Following the completion of the sale, the vice president now directly owns 32,025 shares of the company’s stock, valued at $733,372.50. The disclosure for this sale can be found here. Insiders sold 17,515 shares of company stock valued at $396,945 over the last ninety days. Insiders own 2.10% of the company’s stock.

Shares of Tanger Factory Outlet Centers opened at $20.13 on Thursday, according to Marketbeat. Tanger Factory Outlet Centers has a twelve month low of $20.05 and a twelve month high of $20.42. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 2.99. The firm has a market capitalization of $1.89 billion, a PE ratio of 8.18, a PEG ratio of 1.59 and a beta of 0.51.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.34). Tanger Factory Outlet Centers had a net margin of 13.85% and a return on equity of 10.97%. The firm had revenue of $123.50 million during the quarter, compared to analyst estimates of $120.93 million. During the same period in the previous year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. research analysts anticipate that Tanger Factory Outlet Centers will post 2.44 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, April 27th. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.95%. Tanger Factory Outlet Centers’s payout ratio is presently 56.91%.

Tanger Factory Outlet Centers Profile

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 500 different brand name companies.

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

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