Teacher Retirement System of Texas Acquires 50,982 Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

Posted by on Jun 8th, 2023

Teacher Retirement System of Texas raised its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Get Rating) by 209.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,358 shares of the real estate investment trust’s stock after acquiring an additional 50,982 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of Tanger Factory Outlet Centers worth $1,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SKT. State Street Corp boosted its stake in Tanger Factory Outlet Centers by 12.6% in the first quarter. State Street Corp now owns 6,252,459 shares of the real estate investment trust’s stock valued at $107,480,000 after acquiring an additional 700,755 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of Tanger Factory Outlet Centers during the fourth quarter worth $9,735,000. BlackRock Inc. boosted its position in shares of Tanger Factory Outlet Centers by 3.0% during the third quarter. BlackRock Inc. now owns 18,519,731 shares of the real estate investment trust’s stock worth $253,349,000 after purchasing an additional 538,326 shares in the last quarter. Aew Capital Management L P bought a new position in shares of Tanger Factory Outlet Centers during the fourth quarter worth $8,093,000. Finally, Neuberger Berman Group LLC boosted its position in shares of Tanger Factory Outlet Centers by 507.8% during the third quarter. Neuberger Berman Group LLC now owns 503,989 shares of the real estate investment trust’s stock worth $6,895,000 after purchasing an additional 421,062 shares in the last quarter. 74.61% of the stock is owned by institutional investors.

Tanger Factory Outlet Centers Trading Up 3.6 %

Shares of NYSE:SKT opened at $22.22 on Thursday. Tanger Factory Outlet Centers, Inc. has a 12 month low of $13.26 and a 12 month high of $22.37. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 2.82. The company’s fifty day simple moving average is $19.54 and its 200 day simple moving average is $18.93. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 5.77 and a beta of 1.82.

Tanger Factory Outlet Centers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 4.41%. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, April 27th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 124.05%.

Insider Buying and Selling

In other Tanger Factory Outlet Centers news, Director Susan E. Skerritt sold 3,310 shares of Tanger Factory Outlet Centers stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $21.04, for a total value of $69,642.40. Following the sale, the director now directly owns 52,621 shares in the company, valued at approximately $1,107,145.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tanger Factory Outlet Centers news, Director Thomas Reddin sold 5,000 shares of Tanger Factory Outlet Centers stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $19.95, for a total value of $99,750.00. Following the sale, the director now directly owns 45,067 shares in the company, valued at approximately $899,086.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan E. Skerritt sold 3,310 shares of Tanger Factory Outlet Centers stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $21.04, for a total transaction of $69,642.40. Following the completion of the sale, the director now owns 52,621 shares in the company, valued at $1,107,145.84. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SKT has been the topic of a number of recent analyst reports. 888 reissued a “maintains” rating on shares of Tanger Factory Outlet Centers in a research report on Wednesday, May 31st. Evercore ISI lifted their price target on shares of Tanger Factory Outlet Centers from $20.00 to $22.00 in a research report on Wednesday, May 31st. StockNews.com initiated coverage on shares of Tanger Factory Outlet Centers in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Tanger Factory Outlet Centers in a report on Tuesday, March 21st. They set a “buy” rating and a $22.00 price objective on the stock.

Tanger Factory Outlet Centers Company Profile

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Tanger Factory Outlet Centers, Inc engages in the operation of upscale open-air outlet centers. The firm 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.

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

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