Tanger Factory Outlet Centers Inc. (NYSE:SKT) dropped 0.2% during trading on Friday . The company traded as low as $40.64 and last traded at $40.66, with a volume of 425,679 shares. The stock had previously closed at $40.75.

SKT has been the topic of a number of research reports. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Tanger Factory Outlet Centers in a report on Saturday, April 23rd. Vetr cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and set a $38.42 price target on the stock. in a report on Monday, April 18th. Citigroup Inc. cut shares of Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $34.00 to $35.00 in a report on Monday, April 4th. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday, April 13th. Finally, Evercore ISI lifted their price target on shares of Tanger Factory Outlet Centers from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Tanger Factory Outlet Centers has an average rating of “Hold” and an average target price of $37.52.

The stock has a market cap of $3.90 billion and a PE ratio of 19.36. The firm has a 50-day moving average of $37.45 and a 200-day moving average of $34.86.

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

In other news, VP Virginia R. Summerell sold 4,216 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $36.10, for a total transaction of $152,197.60. Following the sale, the vice president now owns 27,815 shares in the company, valued at $1,004,121.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Chad Perry sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $36.53, for a total transaction of $36,530.00. Following the sale, the executive vice president now owns 66,321 shares in the company, valued at approximately $2,422,706.13. The disclosure for this sale can be found here.

Other large investors recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of Tanger Factory Outlet Centers by 0.6% in the fourth quarter. Rhumbline Advisers now owns 206,839 shares of the real estate investment trust’s stock valued at $6,764,000 after buying an additional 1,324 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Tanger Factory Outlet Centers by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 177,561 shares of the real estate investment trust’s stock valued at $5,806,000 after buying an additional 2,729 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Tanger Factory Outlet Centers by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 304,887 shares of the real estate investment trust’s stock valued at $9,970,000 after buying an additional 5,362 shares in the last quarter. 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 in the last quarter. Finally, 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 in 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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