Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Stock Position Lowered by Raymond James Financial Services Advisors Inc.


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Raymond James Financial Services Advisors Inc. lessened its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 23.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,119 shares of the real estate investment trust’s stock after selling 4,222 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Tanger Factory Outlet Centers were worth $141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SKT. Point72 Hong Kong Ltd raised its position in shares of Tanger Factory Outlet Centers by 193.8% during the third quarter. Point72 Hong Kong Ltd now owns 4,577 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 3,019 shares during the period. Amica Mutual Insurance Co. raised its position in shares of Tanger Factory Outlet Centers by 66.6% during the fourth quarter. Amica Mutual Insurance Co. now owns 86,119 shares of the real estate investment trust’s stock worth $858,000 after purchasing an additional 34,436 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Tanger Factory Outlet Centers by 5.5% during the third quarter. Cubist Systematic Strategies LLC now owns 34,982 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 1,834 shares during the period. Amica Retiree Medical Trust raised its position in shares of Tanger Factory Outlet Centers by 94.8% during the fourth quarter. Amica Retiree Medical Trust now owns 19,911 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 9,691 shares during the period. Finally, Fiera Capital Corp acquired a new stake in shares of Tanger Factory Outlet Centers during the fourth quarter worth $996,000. 73.45% of the stock is currently owned by institutional investors.

SKT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Saturday, January 16th. The Goldman Sachs Group reiterated a “sell” rating and set a $12.50 price target (up previously from $11.00) on shares of Tanger Factory Outlet Centers in a report on Monday, March 15th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Tanger Factory Outlet Centers presently has an average rating of “Hold” and an average price target of $9.64.

In other news, Director Thomas Reddin sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $17.50, for a total transaction of $175,000.00. Also, CMO Carrie A. Warren sold 4,087 shares of the company’s stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $17.81, for a total value of $72,789.47. Insiders sold 15,087 shares of company stock worth $265,449 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Shares of NYSE SKT opened at $16.93 on Friday. The business’s 50-day moving average price is $16.39 and its two-hundred day moving average price is $11.71. The company has a debt-to-equity ratio of 4.49, a current ratio of 0.23 and a quick ratio of 0.23. Tanger Factory Outlet Centers, Inc. has a one year low of $5.00 and a one year high of $22.40. The company has a market capitalization of $1.71 billion, a P/E ratio of -423.14 and a beta of 2.10.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Wednesday, February 17th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.14). Tanger Factory Outlet Centers had a negative net margin of 0.76% and a negative return on equity of 0.82%. On average, equities analysts anticipate that Tanger Factory Outlet Centers, Inc. will post 1.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Friday, April 30th will be paid a $0.177 dividend. The ex-dividend date is Thursday, April 29th. This represents a $0.71 dividend on an annualized basis and a yield of 4.18%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 31.28%.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.

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

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