Tanger Factory Outlet Centers Inc. (SKT) Position Trimmed by Wells Fargo & Company MN

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Wells Fargo & Company MN decreased its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 728,389 shares of the real estate investment trust’s stock after selling 34,740 shares during the quarter. Wells Fargo & Company MN’s holdings in Tanger Factory Outlet Centers were worth $16,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SKT. BlackRock Inc. increased its position in Tanger Factory Outlet Centers by 23.8% during the 2nd quarter. BlackRock Inc. now owns 13,585,937 shares of the real estate investment trust’s stock valued at $319,133,000 after purchasing an additional 2,610,355 shares during the period. Northern Trust Corp lifted its holdings in shares of Tanger Factory Outlet Centers by 53.4% in the 2nd quarter. Northern Trust Corp now owns 1,945,986 shares of the real estate investment trust’s stock worth $45,711,000 after purchasing an additional 677,250 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Tanger Factory Outlet Centers by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,761,548 shares of the real estate investment trust’s stock worth $41,378,000 after purchasing an additional 116,626 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Tanger Factory Outlet Centers by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,519,180 shares of the real estate investment trust’s stock worth $35,688,000 after purchasing an additional 7,484 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Tanger Factory Outlet Centers by 24.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,354,340 shares of the real estate investment trust’s stock worth $31,814,000 after purchasing an additional 268,103 shares in the last quarter. 99.14% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on SKT shares. Citigroup increased their target price on Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the stock a “neutral” rating in a report on Thursday, August 16th. ValuEngine upgraded Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a report on Saturday, September 1st. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Scotiabank started coverage on Tanger Factory Outlet Centers in a report on Tuesday, October 16th. They issued an “underperform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.88.

In related news, VP Lisa J. Morrison sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $23.89, for a total value of $203,065.00. Following the completion of the sale, the vice president now owns 41,167 shares in the company, valued at approximately $983,479.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carrie A. Warren sold 1,596 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $23.34, for a total value of $37,250.64. Following the completion of the sale, the senior vice president now owns 51,905 shares of the company’s stock, valued at approximately $1,211,462.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,146 shares of company stock valued at $382,352. Corporate insiders own 2.10% of the company’s stock.

NYSE SKT opened at $23.37 on Wednesday. Tanger Factory Outlet Centers Inc. has a 12 month low of $19.86 and a 12 month high of $26.73. The firm has a market capitalization of $2.22 billion, a P/E ratio of 9.50, a P/E/G ratio of 1.92 and a beta of 0.46. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 3.33.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. Tanger Factory Outlet Centers had a return on equity of 9.57% and a net margin of 11.16%. The business had revenue of $124.24 million during the quarter, compared to the consensus estimate of $119.47 million. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities analysts expect that Tanger Factory Outlet Centers Inc. will post 2.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, October 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.99%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 56.91%.

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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 510 different brand name companies.

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

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