Tanger Factory Outlet Centers, Inc. (SKT) CMO Carrie A. Geldner Sells 2,250 Shares of Stock

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) CMO Carrie A. Geldner sold 2,250 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total transaction of $55,125.00. Following the sale, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Tanger Factory Outlet Centers, Inc. (NYSE SKT) traded up $0.63 during trading on Friday, reaching $25.08. 782,887 shares of the company were exchanged, compared to its average volume of 1,298,231. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.91. Tanger Factory Outlet Centers, Inc. has a 12-month low of $21.81 and a 12-month high of $37.34. The stock has a market cap of $2,311.21, a PE ratio of 11.93, a price-to-earnings-growth ratio of 3.24 and a beta of 0.52.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were given a dividend of $0.3425 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $1.37 dividend on an annualized basis and a yield of 5.46%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is 220.97%.

A number of institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its position in Tanger Factory Outlet Centers by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 303 shares during the period. BB&T Securities LLC boosted its position in Tanger Factory Outlet Centers by 6.2% during the 2nd quarter. BB&T Securities LLC now owns 8,575 shares of the real estate investment trust’s stock worth $222,000 after purchasing an additional 501 shares during the period. Utah Retirement Systems boosted its position in Tanger Factory Outlet Centers by 2.8% during the 2nd quarter. Utah Retirement Systems now owns 21,773 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 588 shares during the period. Arizona State Retirement System boosted its position in Tanger Factory Outlet Centers by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 40,700 shares of the real estate investment trust’s stock worth $1,057,000 after purchasing an additional 700 shares during the period. Finally, State Treasurer State of Michigan boosted its position in Tanger Factory Outlet Centers by 1.8% during the 2nd quarter. State Treasurer State of Michigan now owns 39,800 shares of the real estate investment trust’s stock worth $1,034,000 after purchasing an additional 700 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on the stock. BidaskClub cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Citigroup lowered their price objective on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research note on Friday, November 10th. Bank of America raised shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research note on Thursday, November 9th. KeyCorp reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Friday, August 25th. Finally, Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $27.00.

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About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

Insider Buying and Selling by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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