Tanger Factory Outlet Centers Inc. (NYSE:SKT) Holdings Increased by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its holdings in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 496.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,560 shares of the real estate investment trust’s stock after buying an additional 67,891 shares during the period. Point72 Asset Management L.P. owned 0.09% of Tanger Factory Outlet Centers worth $1,992,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Advisor Group Inc. lifted its stake 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 valued at $116,000 after acquiring an additional 303 shares during the period. BB&T Securities LLC increased its position in shares of 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 valued at $222,000 after purchasing an additional 501 shares during the last quarter. Utah Retirement Systems increased its position in shares of 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 valued at $566,000 after purchasing an additional 588 shares during the last quarter. Arizona State Retirement System increased its position in shares of 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 valued at $1,057,000 after purchasing an additional 700 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Tanger Factory Outlet Centers by 1.4% during the 2nd quarter. Comerica Bank now owns 75,370 shares of the real estate investment trust’s stock valued at $2,046,000 after purchasing an additional 1,033 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Tanger Factory Outlet Centers Inc. (SKT) traded up $0.26 during midday trading on Friday, hitting $25.13. The stock had a trading volume of 1,135,245 shares, compared to its average volume of 1,245,933. The company has a market cap of $2,350.92, a P/E ratio of 40.53, a P/E/G ratio of 3.18 and a beta of 0.52. Tanger Factory Outlet Centers Inc. has a 52-week low of $21.81 and a 52-week high of $35.83. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.91.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.343 dividend. The ex-dividend date is Tuesday, January 30th. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. 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 currently 220.97%.

In related news, CMO Carrie A. Geldner sold 2,250 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the completion of the sale, the chief marketing officer now directly owns 51,261 shares in the company, valued at $1,255,894.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by company insiders.

Several research firms have recently commented on SKT. Zacks Investment Research lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine lowered shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Jefferies Group reissued a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a report on Friday, December 22nd. Citigroup cut 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 report on Friday, November 10th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.60.

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Tanger Factory Outlet Centers Company Profile

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.

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

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