WINTON GROUP Ltd Reduces Position in Tanger Factory Outlet Centers Inc. (SKT)

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WINTON GROUP Ltd lowered its position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 56.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,067 shares of the real estate investment trust’s stock after selling 63,774 shares during the period. WINTON GROUP Ltd owned 0.05% of Tanger Factory Outlet Centers worth $1,079,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SKT. Envestnet Asset Management Inc. grew its holdings in Tanger Factory Outlet Centers by 69.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,963 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 2,863 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in Tanger Factory Outlet Centers during the fourth quarter valued at approximately $263,000. Lido Advisors LLC acquired a new position in Tanger Factory Outlet Centers during the fourth quarter valued at approximately $265,000. GSA Capital Partners LLP acquired a new position in Tanger Factory Outlet Centers during the first quarter valued at approximately $238,000. Finally, Vident Investment Advisory LLC acquired a new position in Tanger Factory Outlet Centers during the fourth quarter valued at approximately $296,000.

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

In other news, SVP Charles Allen Worsham sold 4,400 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Carrie A. Warren sold 2,357 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $20.80, for a total value 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.

SKT opened at $23.49 on Friday. Tanger Factory Outlet Centers Inc. has a 1-year low of $19.86 and a 1-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 company has a market capitalization of $2.24 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.89 and a beta of 0.52.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $120.93 million. During the same period in the prior year, the company posted $0.58 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. sell-side analysts predict that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current year.

About Tanger Factory Outlet Centers

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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