Tanger Factory Outlet Centers, Inc. (NYSE:SKT) was the recipient of unusually large options trading on Tuesday. Investors acquired 3,004 put options on the stock. This is an increase of 954% compared to the typical volume of 285 put options.

Several brokerages have weighed in on SKT. BidaskClub raised Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Bank of America Corporation lowered Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $28.00 to $25.50 in a research report on Friday, June 23rd. Jefferies Group LLC lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and decreased their target price for the stock from $38.00 to $29.00 in a research report on Friday, June 16th. Citigroup Inc. upgraded Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research report on Monday, June 12th. Finally, ValuEngine lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $36.08.

Tanger Factory Outlet Centers (NYSE SKT) opened at 25.60 on Friday. Tanger Factory Outlet Centers has a 52-week low of $24.71 and a 52-week high of $42.20. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 13.07 and a beta of 0.45. The stock’s 50 day moving average price is $26.12 and its 200 day moving average price is $31.56.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.35. Tanger Factory Outlet Centers had a return on equity of 27.05% and a net margin of 39.32%. The company had revenue of $121.37 million for the quarter, compared to the consensus estimate of $122.59 million. During the same quarter last year, the business earned $0.56 earnings per share. Tanger Factory Outlet Centers’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Tanger Factory Outlet Centers will post $1.01 earnings per share for the current fiscal year.

In other Tanger Factory Outlet Centers news, Director Allan L. Schuman sold 32,930 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $28.52, for a total transaction of $939,163.60. Following the completion of the sale, the director now directly owns 43,953 shares of the company’s stock, valued at approximately $1,253,539.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chad Perry sold 8,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $27.57, for a total value of $220,560.00. Following the sale, the executive vice president now directly owns 78,112 shares of the company’s stock, valued at $2,153,547.84. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Several institutional investors have recently modified their holdings of SKT. Capstone Asset Management Co. increased its position in shares of Tanger Factory Outlet Centers by 28.6% in the first quarter. Capstone Asset Management Co. now owns 9,636 shares of the real estate investment trust’s stock worth $316,000 after buying an additional 2,145 shares during the period. Creative Planning increased its position in shares of Tanger Factory Outlet Centers by 6.8% in the first quarter. Creative Planning now owns 11,775 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 752 shares during the period. Pensionfund Sabic increased its position in shares of Tanger Factory Outlet Centers by 8.2% in the first quarter. Pensionfund Sabic now owns 26,500 shares of the real estate investment trust’s stock worth $868,000 after buying an additional 2,000 shares during the period. Macquarie Group Ltd. increased its position in shares of Tanger Factory Outlet Centers by 7.1% in the fourth quarter. Macquarie Group Ltd. now owns 42,883 shares of the real estate investment trust’s stock worth $1,534,000 after buying an additional 2,825 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Tanger Factory Outlet Centers by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 173,883 shares of the real estate investment trust’s stock worth $6,222,000 after buying an additional 16,075 shares during the period. Institutional investors own 95.58% of the company’s stock.

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Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

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