Tanger Factory Outlet Centers Inc. (SKT) COO Thomas E. Mcdonough Sells 11,276 Shares

Tanger Factory Outlet Centers Inc. (NYSE:SKT) COO Thomas E. Mcdonough sold 11,276 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $22.55, for a total transaction of $254,273.80. Following the transaction, the chief operating officer now owns 159,088 shares in the company, valued at approximately $3,587,434.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of Tanger Factory Outlet Centers Inc. (NYSE SKT) opened at $22.52 on Wednesday. The company has a current ratio of 0.07, a quick ratio of 0.10 and a debt-to-equity ratio of 2.88. Tanger Factory Outlet Centers Inc. has a 12-month low of $21.14 and a 12-month high of $34.76. The firm has a market cap of $2,130.00, a PE ratio of 32.17, a PEG ratio of 2.96 and a beta of 0.44.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. Tanger Factory Outlet Centers had a net margin of 13.80% and a return on equity of 10.45%. The business had revenue of $126.49 million for the quarter, compared to analyst estimates of $122.67 million. analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were given a dividend of $0.343 per share. This is a positive change from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend was Tuesday, January 30th. Tanger Factory Outlet Centers’s payout ratio is 195.71%.

Several research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Bank of America upgraded shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Thursday, February 15th. Finally, Jefferies Group restated a “hold” rating and set a $24.00 price objective on shares of Tanger Factory Outlet Centers in a report on Friday, December 22nd. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Tanger Factory Outlet Centers currently has a consensus rating of “Hold” and an average price target of $26.60.

Several institutional investors have recently modified their holdings of the company. Advisor Group Inc. boosted its position in shares of 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tanger Factory Outlet Centers by 34.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 2,107 shares in the last quarter. FDx Advisors Inc. boosted its position in shares of Tanger Factory Outlet Centers by 10.5% during the 4th quarter. FDx Advisors Inc. now owns 23,221 shares of the real estate investment trust’s stock valued at $616,000 after acquiring an additional 2,215 shares in the last quarter. ING Groep NV boosted its position in shares of Tanger Factory Outlet Centers by 22.6% during the 4th quarter. ING Groep NV now owns 14,263 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 2,633 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Tanger Factory Outlet Centers by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 142,092 shares of the real estate investment trust’s stock valued at $3,691,000 after acquiring an additional 2,704 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

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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.

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

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