Smith Salley & Associates Sells 22,234 Shares of Tanger Factory Outlet Centers Inc. (SKT)

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Smith Salley & Associates trimmed its holdings in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,769 shares of the real estate investment trust’s stock after selling 22,234 shares during the quarter. Smith Salley & Associates owned approximately 0.13% of Tanger Factory Outlet Centers worth $2,462,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its holdings in shares of Tanger Factory Outlet Centers by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 29,980 shares of the real estate investment trust’s stock valued at $606,000 after acquiring an additional 548 shares during the period. Arizona State Retirement System increased its holdings in shares of Tanger Factory Outlet Centers by 1.1% in the 4th quarter. Arizona State Retirement System now owns 67,401 shares of the real estate investment trust’s stock valued at $1,363,000 after acquiring an additional 722 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Tanger Factory Outlet Centers by 5.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,700 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 800 shares during the period. Edmp Inc. increased its holdings in shares of Tanger Factory Outlet Centers by 1.6% in the 4th quarter. Edmp Inc. now owns 62,685 shares of the real estate investment trust’s stock valued at $1,267,000 after acquiring an additional 975 shares during the period. Finally, Albion Financial Group UT increased its holdings in shares of Tanger Factory Outlet Centers by 6.3% in the 4th quarter. Albion Financial Group UT now owns 20,995 shares of the real estate investment trust’s stock valued at $425,000 after acquiring an additional 1,235 shares during the period. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of SKT opened at $22.37 on Monday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 1.96 and a beta of 0.81. Tanger Factory Outlet Centers Inc. has a 1 year low of $19.76 and a 1 year high of $24.91.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, January 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $1.40 annualized dividend and a yield of 6.26%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 56.91%.

In other news, SVP Charles Allen Worsham sold 3,550 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $23.63, for a total transaction of $83,886.50. Following the transaction, the senior vice president now directly owns 32,493 shares of the company’s stock, valued at approximately $767,809.59. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Chad Perry sold 2,500 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $23.26, for a total transaction of $58,150.00. Following the transaction, the executive vice president now directly owns 86,517 shares in the company, valued at $2,012,385.42. The disclosure for this sale can be found here. Insiders sold a total of 7,646 shares of company stock worth $179,287 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Tanger Factory Outlet Centers in a report on Tuesday, October 16th. They issued an “underperform” rating on the stock. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Saturday, December 22nd. JPMorgan Chase & Co. cut shares of Tanger Factory Outlet Centers from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $24.00 to $22.00 in a research note on Wednesday, December 19th. Finally, ValuEngine raised shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 6th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Sell” and a consensus target price of $22.13.

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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 530 different brand name companies.

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

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