BlackRock Inc. Has $319.13 Million Stake in Tanger Factory Outlet Centers Inc. (SKT)

BlackRock Inc. grew its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 23.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,585,937 shares of the real estate investment trust’s stock after acquiring an additional 2,610,355 shares during the quarter. BlackRock Inc. owned about 14.47% of Tanger Factory Outlet Centers worth $319,133,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Tanger Factory Outlet Centers by 24.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,354,340 shares of the real estate investment trust’s stock valued at $31,814,000 after acquiring an additional 268,103 shares during the period. Bank of Montreal Can boosted its holdings in shares of Tanger Factory Outlet Centers by 111.5% during the second quarter. Bank of Montreal Can now owns 44,867 shares of the real estate investment trust’s stock valued at $1,054,000 after acquiring an additional 23,652 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Tanger Factory Outlet Centers by 37.5% during the first quarter. Thrivent Financial for Lutherans now owns 71,723 shares of the real estate investment trust’s stock valued at $1,578,000 after acquiring an additional 19,566 shares during the period. Barclays PLC boosted its holdings in shares of Tanger Factory Outlet Centers by 114.9% during the first quarter. Barclays PLC now owns 223,537 shares of the real estate investment trust’s stock valued at $4,918,000 after acquiring an additional 119,542 shares during the period. Finally, ARP Americas LP acquired a new position in shares of Tanger Factory Outlet Centers during the second quarter valued at $251,000.

SKT stock opened at $22.78 on Friday. The stock has a market capitalization of $2.13 billion, a P/E ratio of 9.26, a P/E/G ratio of 1.97 and a beta of 0.53. Tanger Factory Outlet Centers Inc. has a fifty-two week low of $19.86 and a fifty-two week high of $26.73. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.07.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.35). The company had revenue of $117.08 million during the quarter, compared to analyst estimates of $116.92 million. Tanger Factory Outlet Centers had a return on equity of 10.34% and a net margin of 12.60%. analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current fiscal year.

In related news, SVP Carrie A. Warren sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $24.14, for a total value of $48,280.00. Following the completion of the sale, the senior vice president now owns 53,501 shares of the company’s stock, valued at $1,291,514.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,500 shares of company stock valued at $107,930 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

SKT has been the subject of several research analyst reports. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Citigroup upped their price objective on shares of Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, August 16th. Finally, ValuEngine raised shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a report on Saturday, September 1st. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $21.83.

Tanger Factory Outlet Centers Profile

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 510 different brand name companies.

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Institutional Ownership by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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