Miller Howard Investments Inc. NY Purchases Shares of 259,429 Tanger Factory Outlet Centers Inc. (SKT)

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Miller Howard Investments Inc. NY purchased a new position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) in the third quarter, Holdings Channel reports. The institutional investor purchased 259,429 shares of the real estate investment trust’s stock, valued at approximately $5,936,000.

Other hedge funds have also modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter valued at $119,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter valued at $217,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter valued at $235,000. ARP Americas LP acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter valued at $251,000. Finally, McQueen Ball & Associates Inc. acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter valued at $283,000.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Warren sold 2,000 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $24.14, for a total value of $48,280.00. Following the sale, the senior vice president now directly owns 53,501 shares in the company, valued at $1,291,514.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 4,500 shares of company stock worth $107,930 over the last quarter. Company insiders own 2.10% of the company’s stock.

A number of research analysts recently commented on SKT shares. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Citigroup upped their target price on Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the company a “neutral” rating in a research note on Thursday, August 16th. Scotiabank started coverage on Tanger Factory Outlet Centers in a research note on Tuesday, October 16th. They issued an “underperform” rating for the company. Finally, ValuEngine upgraded Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Tanger Factory Outlet Centers has an average rating of “Hold” and a consensus price target of $21.83.

Shares of NYSE SKT opened at $22.52 on Tuesday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market capitalization of $2.05 billion, a P/E ratio of 9.15, a PEG ratio of 1.89 and a beta of 0.51. Tanger Factory Outlet Centers Inc. has a one year low of $19.86 and a one year high of $26.73.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.35). The firm had revenue of $117.08 million during the quarter, compared to analyst estimates of $116.92 million. Tanger Factory Outlet Centers had a net margin of 12.60% and a return on equity of 10.34%. Equities analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date is Tuesday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 56.91%.

Tanger Factory Outlet Centers Company 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 510 different brand name companies.

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

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