Tanger Factory Outlet Centers Inc. (SKT) Shares Sold by Smith Salley & Associates

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Smith Salley & Associates reduced its stake in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 5.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 144,003 shares of the real estate investment trust’s stock after selling 8,868 shares during the period. Smith Salley & Associates owned approximately 0.15% of Tanger Factory Outlet Centers worth $3,295,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SKT. Xact Kapitalforvaltning AB lifted its holdings in shares of Tanger Factory Outlet Centers by 49.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 14,811 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 4,900 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Tanger Factory Outlet Centers by 9.1% during the 1st quarter. Principal Financial Group Inc. now owns 8,239,374 shares of the real estate investment trust’s stock worth $181,266,000 after acquiring an additional 688,466 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Tanger Factory Outlet Centers by 111.5% during the 2nd quarter. Bank of Montreal Can now owns 44,867 shares of the real estate investment trust’s stock worth $1,054,000 after acquiring an additional 23,652 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Tanger Factory Outlet Centers by 24.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 50,200 shares of the real estate investment trust’s stock worth $1,179,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. bought a new stake in shares of Tanger Factory Outlet Centers during the 2nd quarter worth $235,000.

Tanger Factory Outlet Centers stock opened at $23.63 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.06 and a debt-to-equity ratio of 3.33. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 2.05 and a beta of 0.42. Tanger Factory Outlet Centers Inc. has a twelve month low of $19.86 and a twelve month high of $26.73.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.92%. The ex-dividend date is Tuesday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio is presently 56.91%.

A number of analysts have recently issued reports on SKT shares. 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 report on Thursday, August 16th. ValuEngine raised shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a report on Saturday, September 1st. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Scotiabank started coverage on shares of Tanger Factory Outlet Centers in a report on Tuesday, October 16th. They set an “underperform” rating for the company. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Tanger Factory Outlet Centers has an average rating of “Hold” and a consensus target price of $21.83.

In other Tanger Factory Outlet Centers 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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

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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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