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.
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.
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