Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) have been assigned an average rating of “Hold” from the twelve analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $30.00.

A number of equities analysts recently commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $26.00 target price on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. KeyCorp reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. BidaskClub cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Boenning Scattergood set a $25.00 target price on shares of Tanger Factory Outlet Centers and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Saturday, July 15th.

Shares of Tanger Factory Outlet Centers (SKT) traded down 0.04% on Wednesday, hitting $25.30. 816,690 shares of the stock traded hands. Tanger Factory Outlet Centers has a 52 week low of $23.06 and a 52 week high of $37.34. The stock has a 50-day moving average price of $24.39 and a 200 day moving average price of $26.98. The firm has a market cap of $2.40 billion, a P/E ratio of 16.75 and a beta of 0.49.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $119.60 million for the quarter, compared to analysts’ expectations of $122.00 million. Tanger Factory Outlet Centers had a net margin of 29.65% and a return on equity of 20.75%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. Equities research analysts predict that Tanger Factory Outlet Centers will post $0.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Monday, October 30th. Tanger Factory Outlet Centers’s payout ratio is presently 90.73%.

COPYRIGHT VIOLATION NOTICE: This news story was posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright and trademark laws. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/10/11/tanger-factory-outlet-centers-inc-skt-given-average-rating-of-hold-by-analysts.html.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $24.18, for a total value of $43,524.00. Following the transaction, the senior vice president now owns 53,511 shares in the company, valued at $1,293,895.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas E. Mcdonough sold 10,734 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $26.74, for a total transaction of $287,027.16. Following the completion of the transaction, the chief operating officer now owns 180,551 shares in the company, valued at approximately $4,827,933.74. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in SKT. BlackRock Inc. increased its position in shares of Tanger Factory Outlet Centers by 2,800.6% in the first quarter. BlackRock Inc. now owns 11,216,024 shares of the real estate investment trust’s stock valued at $367,550,000 after acquiring an additional 10,829,338 shares during the period. Principal Financial Group Inc. increased its position in shares of Tanger Factory Outlet Centers by 199.1% in the second quarter. Principal Financial Group Inc. now owns 3,947,025 shares of the real estate investment trust’s stock valued at $102,543,000 after acquiring an additional 2,627,566 shares during the period. State Street Corp increased its position in shares of Tanger Factory Outlet Centers by 11.2% in the second quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock valued at $293,533,000 after acquiring an additional 1,140,291 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Tanger Factory Outlet Centers by 278.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 678,150 shares of the real estate investment trust’s stock valued at $17,618,000 after acquiring an additional 498,985 shares during the period. Finally, BlueCrest Capital Management Ltd increased its position in shares of Tanger Factory Outlet Centers by 774.8% in the second quarter. BlueCrest Capital Management Ltd now owns 560,577 shares of the real estate investment trust’s stock valued at $14,564,000 after acquiring an additional 496,493 shares during the period. Hedge funds and other institutional investors own 96.82% of the company’s stock.

About Tanger Factory Outlet Centers

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.

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

Receive News & Ratings for Tanger Factory Outlet Centers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.