Ladenburg Thalmann Financial Services Inc. Has $602,000 Position in Tanger Factory Outlet Centers Inc. (SKT)

Ladenburg Thalmann Financial Services Inc. lowered its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 24.0% in the first quarter, HoldingsChannel reports. The firm owned 27,331 shares of the real estate investment trust’s stock after selling 8,614 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Tanger Factory Outlet Centers were worth $602,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Ceredex Value Advisors LLC acquired a new position in Tanger Factory Outlet Centers in the first quarter valued at $63,994,000. Principal Financial Group Inc. boosted its stake in Tanger Factory Outlet Centers by 9.1% in the first quarter. Principal Financial Group Inc. now owns 8,239,374 shares of the real estate investment trust’s stock valued at $181,266,000 after acquiring an additional 688,466 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Tanger Factory Outlet Centers in the first quarter valued at $5,956,000. Hsbc Holdings PLC boosted its stake in Tanger Factory Outlet Centers by 25.0% in the first quarter. Hsbc Holdings PLC now owns 1,147,295 shares of the real estate investment trust’s stock valued at $25,240,000 after acquiring an additional 229,183 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Tanger Factory Outlet Centers by 1.3% in the first quarter. BlackRock Inc. now owns 10,975,582 shares of the real estate investment trust’s stock valued at $241,464,000 after acquiring an additional 142,726 shares in the last quarter.

In other news, SVP Charles Allen Worsham sold 4,400 shares of the company’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $21.12, for a total value of $92,928.00. Following the completion of the sale, the senior vice president now directly owns 36,043 shares of the company’s stock, valued at $761,228.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Carrie A. Warren sold 2,357 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $20.80, for a total transaction of $49,025.60. Following the completion of the sale, the senior vice president now directly owns 55,501 shares of the company’s stock, valued at $1,154,420.80. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Shares of NYSE:SKT opened at $24.12 on Friday. Tanger Factory Outlet Centers Inc. has a one year low of $19.86 and a one year high of $27.88. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $2.24 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.51.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.34). Tanger Factory Outlet Centers had a net margin of 13.85% and a return on equity of 10.97%. The business had revenue of $123.50 million during the quarter, compared to analysts’ expectations of $120.93 million. During the same period in the previous year, the company posted $0.58 earnings per share. Tanger Factory Outlet Centers’s quarterly revenue was up 1.8% on a year-over-year basis. sell-side analysts predict that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current year.

Several equities analysts have issued reports on SKT shares. KeyCorp downgraded shares of Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 price objective for the company. in a research note on Wednesday, May 2nd. ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, Boenning Scattergood restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, May 3rd. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company has an average rating of “Sell” and an average target price of $23.25.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc (NYSE: SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 500 different brand name companies.

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

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