Insider Selling: Tanger Factory Outlet Centers CAO Sells 1,000 Shares of Stock (SKT)
Tanger Factory Outlet Centers (NYSE:SKT) CAO James Floyd Williams sold 1,000 shares of Tanger Factory Outlet Centers stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $34.80, for a total value of $34,800.00. Following the transaction, the chief accounting officer now directly owns 86,806 shares of the company’s stock, valued at approximately $3,020,849. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Tanger Factory Outlet Centers (NYSE:SKT) traded down 0.03% on Tuesday, hitting $34.90. 574,747 shares of the company’s stock traded hands. Tanger Factory Outlet Centers has a one year low of $30.20 and a one year high of $36.77. The stock’s 50-day moving average is $34.88 and its 200-day moving average is $35.11. The company has a market cap of $3.274 billion and a price-to-earnings ratio of 30.60.
Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Tuesday, August 5th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $102.30 million for the quarter, compared to the consensus estimate of $98.48 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts predict that Tanger Factory Outlet Centers will post $1.95 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Tanger Factory Outlet Centers from $35.00 to $37.00 in a research note on Tuesday, July 22nd. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Tanger Factory Outlet Centers in a research note on Tuesday, June 10th. They now have a $38.00 price target on the stock, up previously from $36.00.
Tanger Factory Outlet Centers, Inc is a fully integrated, self-administered and self-managed real estate investment trust (NYSE:SKT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.
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