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

Tanger Factory Outlet Centers Inc. (NYSE:SKT) has been given a consensus rating of “Hold” by the ten research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $27.50.

A number of brokerages have recently issued reports on SKT. ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Jefferies Group restated a “hold” rating and set a $24.00 price objective on shares of Tanger Factory Outlet Centers in a research report on Friday, December 22nd. Citigroup lowered their price objective on 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. Finally, Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the firm’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 transaction of $55,125.00. Following the completion of the sale, 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 available at the SEC website. Company insiders own 4.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SKT. Advisor Group Inc. grew its stake in Tanger Factory Outlet Centers by 6.5% during the second quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 303 shares during the period. Capital Advisors Ltd. LLC acquired a new stake in Tanger Factory Outlet Centers during the third quarter worth approximately $134,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tanger Factory Outlet Centers by 34.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 2,107 shares during the period. Telemus Capital LLC acquired a new stake in Tanger Factory Outlet Centers in the third quarter valued at approximately $244,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Tanger Factory Outlet Centers in the third quarter valued at approximately $289,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Shares of Tanger Factory Outlet Centers (NYSE SKT) traded down $0.11 on Tuesday, hitting $23.17. The stock had a trading volume of 311,388 shares, compared to its average volume of 1,535,649. Tanger Factory Outlet Centers has a 52 week low of $21.81 and a 52 week high of $34.76. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.91. The company has a market capitalization of $2,157.13, a P/E ratio of 37.37, a price-to-earnings-growth ratio of 2.92 and a beta of 0.44.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.343 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.37 annualized dividend and a yield of 5.92%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 220.97%.

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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)

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