Axa S.A. Invests $425,000 in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Posted by Defense World Staff on Mar 2nd, 2023

Axa S.A. purchased a new stake in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,100 shares of the real estate investment trust’s stock, valued at approximately $425,000.

Several other hedge funds have also added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in shares of Tanger Factory Outlet Centers in the second quarter valued at about $26,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Tanger Factory Outlet Centers by 44.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,552 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 785 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter valued at approximately $50,000. Point72 Hong Kong Ltd acquired a new stake in Tanger Factory Outlet Centers during the 1st quarter worth approximately $74,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Tanger Factory Outlet Centers by 683.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 7,923 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 6,912 shares during the period. Institutional investors and hedge funds own 74.61% of the company’s stock.

Tanger Factory Outlet Centers Price Performance

Tanger Factory Outlet Centers stock opened at $18.74 on Thursday. The firm has a market cap of $1.96 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.16 and a beta of 1.81. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.53 and a quick ratio of 2.36. The stock’s fifty day moving average price is $18.46 and its two-hundred day moving average price is $17.53. Tanger Factory Outlet Centers, Inc. has a one year low of $13.26 and a one year high of $20.27.

Tanger Factory Outlet Centers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Monday, January 30th. Tanger Factory Outlet Centers’s payout ratio is currently 114.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their target price on Tanger Factory Outlet Centers from $15.00 to $20.00 in a report on Wednesday, December 14th. Compass Point cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Monday, January 30th.

About Tanger Factory Outlet Centers

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Tanger Factory Outlet Centers, Inc is a fully-integrated, self-administered and self-managed real estate investment trust. It focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.