Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) were up 1.3% on Tuesday . The stock traded as high as $40.79 and last traded at $40.79, with a volume of 403,361 shares trading hands. The stock had previously closed at $40.25.

Several analysts have weighed in on SKT shares. Vetr downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and set a $36.98 price objective for the company. in a research report on Thursday, March 17th. Evercore ISI boosted their price objective on Tanger Factory Outlet Centers from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, March 21st. Citigroup Inc. downgraded Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $34.00 to $35.00 in a research report on Monday, April 4th. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, April 13th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Tanger Factory Outlet Centers in a research report on Saturday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.52.

The firm has a 50 day moving average of $37.07 and a 200 day moving average of $34.75. The stock has a market cap of $3.87 billion and a P/E ratio of 19.24.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm earned $110.80 million during the quarter, compared to analysts’ expectations of $112.46 million. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts predict that Tanger Factory Outlet Centers Inc. will post $2.32 EPS for the current year.

In related news, EVP Chad Perry sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $36.53, for a total value of $36,530.00. Following the sale, the executive vice president now directly owns 66,321 shares of the company’s stock, valued at $2,422,706.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Carrie A. Geldner sold 1,500 shares of the company’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $35.71, for a total value of $53,565.00. Following the completion of the sale, the chief marketing officer now directly owns 51,689 shares in the company, valued at $1,845,814.19. The disclosure for this sale can be found here.

Other large investors have recently modified their holdings of the company. Numeric Investors LLC purchased a new stake in shares of Tanger Factory Outlet Centers during the fourth quarter valued at $1,269,000. SECOR Capital Advisors LP purchased a new stake in shares of Tanger Factory Outlet Centers during the fourth quarter valued at $1,385,000. Advantus Capital Management Inc boosted its stake in shares of Tanger Factory Outlet Centers by 267.5% in the fourth quarter. Advantus Capital Management Inc now owns 49,020 shares of the real estate investment trust’s stock valued at $1,603,000 after buying an additional 35,680 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Tanger Factory Outlet Centers by 13.9% in the fourth quarter. ProShare Advisors LLC now owns 53,179 shares of the real estate investment trust’s stock valued at $1,739,000 after buying an additional 6,508 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Tanger Factory Outlet Centers by 10.6% in the fourth quarter. Wells Fargo & Company MN now owns 57,223 shares of the real estate investment trust’s stock valued at $1,871,000 after buying an additional 5,475 shares during the last quarter.

Tanger Factory Outlet Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. The Company’s consolidated portfolio consists of approximately 34 outlet centers, with a total gross leasable area of approximately 11.7 million square feet.

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