Tanger Factory Outlet Centers Inc. (SKT) Holdings Lifted by Bank of Montreal Can

Bank of Montreal Can boosted its stake in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 81.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,455 shares of the real estate investment trust’s stock after buying an additional 36,588 shares during the quarter. Bank of Montreal Can owned 0.09% of Tanger Factory Outlet Centers worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of SKT. Schwab Charles Investment Management Inc. grew its position in shares of Tanger Factory Outlet Centers by 24.7% in 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 purchasing an additional 268,103 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Tanger Factory Outlet Centers by 13.3% in the second quarter. Macquarie Group Ltd. now owns 35,750 shares of the real estate investment trust’s stock valued at $840,000 after purchasing an additional 4,200 shares during the last quarter. BlackRock Inc. grew its position in shares of Tanger Factory Outlet Centers by 23.8% in the second quarter. BlackRock Inc. now owns 13,585,937 shares of the real estate investment trust’s stock valued at $319,133,000 after purchasing an additional 2,610,355 shares during the last quarter. First Trust Advisors LP grew its position in shares of Tanger Factory Outlet Centers by 12.3% in the second quarter. First Trust Advisors LP now owns 36,139 shares of the real estate investment trust’s stock valued at $849,000 after purchasing an additional 3,946 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Tanger Factory Outlet Centers in the second quarter valued at approximately $698,000.

SKT stock opened at $23.63 on Friday. The company has a market capitalization of $2.16 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 2.00 and a beta of 0.42. Tanger Factory Outlet Centers Inc. has a 12 month low of $19.86 and a 12 month high of $26.73. The company has a current ratio of 0.06, a quick ratio of 0.07 and a debt-to-equity ratio of 3.33.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $124.24 million for the quarter, compared to the consensus estimate of $119.47 million. Tanger Factory Outlet Centers had a net margin of 11.16% and a return on equity of 9.57%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Equities analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Tuesday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 56.91%.

SKT has been the topic of several research reports. Citigroup increased their price target on shares of Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, August 16th. ValuEngine upgraded shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 1st. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Finally, Scotiabank initiated coverage on shares of Tanger Factory Outlet Centers in a research report on Tuesday, October 16th. They issued an “underperform” rating on the stock. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.83.

In related news, SVP Carrie A. Warren sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $24.14, for a total transaction of $48,280.00. Following the transaction, the senior vice president now owns 53,501 shares of the company’s stock, valued at $1,291,514.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

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Tanger Factory Outlet Centers Company 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.

Further Reading: Book Value Per Share in Stock Trading

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

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