Tanger Factory Outlet Centers Inc. (NYSE:SKT) Short Interest Update

Tanger Factory Outlet Centers Inc. (NYSE:SKT) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 52,450,000 shares, a growth of 9.1% from the December 15th total of 48,060,000 shares. Currently, 57.8% of the company’s shares are sold short. Based on an average daily volume of 3,090,000 shares, the short-interest ratio is presently 17.0 days.

Tanger Factory Outlet Centers stock opened at $15.66 on Wednesday. The company’s 50 day simple moving average is $15.18 and its 200-day simple moving average is $15.60. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 6.31 and a beta of 0.64. Tanger Factory Outlet Centers has a 1 year low of $13.61 and a 1 year high of $23.14. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.06 and a current ratio of 0.06.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.31). The company had revenue of $118.99 million during the quarter, compared to analysts’ expectations of $117.49 million. Tanger Factory Outlet Centers had a net margin of 24.51% and a return on equity of 23.49%. Tanger Factory Outlet Centers’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Equities analysts expect that Tanger Factory Outlet Centers will post 2.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 9.07%. The ex-dividend date is Thursday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 57.26%.

In related news, insider Stewart Martin 800,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. 2.30% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in SKT. State Street Corp grew its holdings in shares of Tanger Factory Outlet Centers by 41.4% in the third quarter. State Street Corp now owns 27,492,799 shares of the real estate investment trust’s stock valued at $425,589,000 after purchasing an additional 8,048,970 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Tanger Factory Outlet Centers by 822.7% in the second quarter. Schroder Investment Management Group now owns 1,639,540 shares of the real estate investment trust’s stock valued at $26,577,000 after purchasing an additional 1,461,848 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Tanger Factory Outlet Centers by 12,159.3% in the second quarter. Nuveen Asset Management LLC now owns 1,189,156 shares of the real estate investment trust’s stock valued at $19,277,000 after purchasing an additional 1,179,456 shares in the last quarter. Paloma Partners Management Co grew its holdings in shares of Tanger Factory Outlet Centers by 1,379.8% in the second quarter. Paloma Partners Management Co now owns 431,237 shares of the real estate investment trust’s stock valued at $6,990,000 after purchasing an additional 402,096 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Tanger Factory Outlet Centers by 1,280.8% in the second quarter. Cubist Systematic Strategies LLC now owns 185,517 shares of the real estate investment trust’s stock valued at $3,007,000 after purchasing an additional 172,082 shares in the last quarter.

A number of equities research analysts have recently issued reports on SKT shares. ValuEngine raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. KeyCorp reduced their price target on shares of Tanger Factory Outlet Centers from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Tanger Factory Outlet Centers presently has an average rating of “Hold” and a consensus target price of $17.80.

About Tanger Factory Outlet Centers

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 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.

Featured Story: What sectors are represented in the FTSE 100 index?

Receive News & Ratings for Tanger Factory Outlet Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply