Tanger Factory Outlet Centers Inc. (SKT) Receives Consensus Rating of “Hold” from Analysts

Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) have been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $27.50.

SKT has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Jefferies Group reaffirmed a “hold” rating and set a $26.00 price objective on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. Citigroup cut their price objective on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Friday, November 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Finally, ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st.

In other news, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the completion of the transaction, the chief marketing officer now owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in shares of Tanger Factory Outlet Centers by 9.3% in the fourth quarter. State of Alaska Department of Revenue now owns 58,530 shares of the real estate investment trust’s stock valued at $1,550,000 after buying an additional 5,000 shares during the period. Westpac Banking Corp increased its stake in shares of Tanger Factory Outlet Centers by 61.4% in the fourth quarter. Westpac Banking Corp now owns 159,316 shares of the real estate investment trust’s stock valued at $4,223,000 after buying an additional 60,630 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Tanger Factory Outlet Centers by 7.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,040,024 shares of the real estate investment trust’s stock valued at $27,572,000 after buying an additional 71,863 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Tanger Factory Outlet Centers by 12.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 45,200 shares of the real estate investment trust’s stock valued at $1,198,000 after buying an additional 5,000 shares during the period. Finally, Dean Investment Associates LLC increased its stake in shares of Tanger Factory Outlet Centers by 9.1% in the third quarter. Dean Investment Associates LLC now owns 283,853 shares of the real estate investment trust’s stock valued at $6,932,000 after buying an additional 23,783 shares during the period.

Tanger Factory Outlet Centers (NYSE:SKT) traded down $0.25 on Friday, reaching $24.89. 995,500 shares of the company traded hands, compared to its average volume of 1,303,150. Tanger Factory Outlet Centers has a 1-year low of $21.81 and a 1-year high of $35.80. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $2,350.00, a PE ratio of 40.15, a price-to-earnings-growth ratio of 3.22 and a beta of 0.52.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.77). Tanger Factory Outlet Centers had a return on equity of 8.98% and a net margin of 12.34%. sell-side analysts anticipate that Tanger Factory Outlet Centers will post 2.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.343 per share. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, January 30th. This represents a $1.37 annualized dividend and a yield of 5.51%. Tanger Factory Outlet Centers’s payout ratio is presently 220.97%.

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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.

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

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