Tanger Factory Outlet Centers Inc. (SKT) Holdings Lifted by Virginia Retirement Systems ET AL

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Virginia Retirement Systems ET AL boosted its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 37.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,100 shares of the real estate investment trust’s stock after buying an additional 76,200 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Tanger Factory Outlet Centers were worth $6,340,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in Tanger Factory Outlet Centers by 32.6% during the third quarter. American Century Companies Inc. now owns 479,109 shares of the real estate investment trust’s stock worth $10,962,000 after buying an additional 117,753 shares during the period. Private Advisor Group LLC boosted its stake in Tanger Factory Outlet Centers by 183.5% during the third quarter. Private Advisor Group LLC now owns 100,472 shares of the real estate investment trust’s stock worth $2,299,000 after buying an additional 65,027 shares during the period. Miller Howard Investments Inc. NY purchased a new position in Tanger Factory Outlet Centers during the third quarter worth $5,936,000. Gilman Hill Asset Management LLC boosted its stake in Tanger Factory Outlet Centers by 5.6% during the third quarter. Gilman Hill Asset Management LLC now owns 185,727 shares of the real estate investment trust’s stock worth $4,249,000 after buying an additional 9,767 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Tanger Factory Outlet Centers by 27.8% during the third quarter. Oppenheimer & Co. Inc. now owns 30,693 shares of the real estate investment trust’s stock worth $703,000 after buying an additional 6,678 shares during the period.

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

In other news, SVP Carrie A. Warren sold 2,000 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $24.14, for a total transaction of $48,280.00. Following the completion of the sale, the senior vice president now directly owns 53,501 shares of the company’s stock, valued at $1,291,514.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Shares of SKT opened at $23.63 on Friday. The firm has a market cap of $2.21 billion, a PE ratio of 9.47, a P/E/G ratio of 2.05 and a beta of 0.42. Tanger Factory Outlet Centers Inc. has a 12-month low of $19.86 and a 12-month high of $26.73. The company has a quick ratio of 0.07, a current ratio of 0.06 and a debt-to-equity ratio of 3.33.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. The firm had revenue of $124.24 million during the quarter, compared to analyst estimates of $119.47 million. Tanger Factory Outlet Centers had a net margin of 11.16% and a return on equity of 9.57%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Analysts predict that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend is Tuesday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 56.91%.

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About Tanger Factory Outlet Centers

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.

Further Reading: Why do company’s buyback their stock?

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

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