Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT – Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,485 shares of the real estate investment trust’s stock after selling 1,190 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.11% of Tanger Factory Outlet Centers worth $2,169,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in SKT. Private Advisor Group LLC increased its position in shares of Tanger Factory Outlet Centers by 50.8% in the first quarter. Private Advisor Group LLC now owns 19,060 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 6,420 shares in the last quarter. Bank of Montreal Can increased its position in shares of Tanger Factory Outlet Centers by 3.1% in the first quarter. Bank of Montreal Can now owns 31,712 shares of the real estate investment trust’s stock worth $573,000 after acquiring an additional 968 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Tanger Factory Outlet Centers by 55.7% in the first quarter. MetLife Investment Management LLC now owns 54,483 shares of the real estate investment trust’s stock worth $937,000 after acquiring an additional 19,491 shares in the last quarter. Rhumbline Advisers increased its position in shares of Tanger Factory Outlet Centers by 3.2% in the first quarter. Rhumbline Advisers now owns 350,524 shares of the real estate investment trust’s stock worth $6,026,000 after acquiring an additional 10,789 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Tanger Factory Outlet Centers by 2.0% in the first quarter. Great West Life Assurance Co. Can now owns 177,139 shares of the real estate investment trust’s stock worth $3,139,000 after acquiring an additional 3,486 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.
Tanger Factory Outlet Centers Price Performance
Shares of Tanger Factory Outlet Centers stock opened at $23.62 on Friday. Tanger Factory Outlet Centers, Inc. has a 1-year low of $13.26 and a 1-year high of $25.23. The firm has a fifty day simple moving average of $22.86 and a 200-day simple moving average of $20.44. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 6.41 and a beta of 1.82. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 2.81.
Tanger Factory Outlet Centers Announces Dividend
Insider Buying and Selling
In related news, Director Susan E. Skerritt sold 3,310 shares of the business’s 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 transaction, the director now owns 52,621 shares of the company’s stock, valued at $1,107,145.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tanger Factory Outlet Centers news, Director Susan E. Skerritt sold 3,310 shares of the business’s 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 owns 52,621 shares of the company’s stock, valued at approximately $1,107,145.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven B. Tanger sold 220,064 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $21.67, for a total transaction of $4,768,786.88. Following the completion of the sale, the insider now directly owns 1,281,919 shares in the company, valued at approximately $27,779,184.73. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Tanger Factory Outlet Centers from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Monday, August 7th. 888 reissued a “maintains” rating on shares of Tanger Factory Outlet Centers in a research report on Wednesday, May 31st. Compass Point upgraded shares of Tanger Factory Outlet Centers from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.00 to $26.00 in a report on Monday, August 7th. The Goldman Sachs Group cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Wednesday. Finally, StockNews.com started coverage on shares of Tanger Factory Outlet Centers in a report on Thursday. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $23.75.
About Tanger Factory Outlet Centers
Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of upscale open-air outlet centers that owns (or has an ownership interest in) and/or manages a portfolio of 36 centers with an additional center currently under development. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 13.9 million square feet, leased to over 2,700 stores operated by more than 600 different brand name companies.
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