Tanger Factory Outlet Centers Inc. (NYSE:SKT) shares reached a new 52-week high during trading on Monday . The company traded as high as $41.62 and last traded at $41.58, with a volume of 420,618 shares trading hands. The stock had previously closed at $41.03.

A number of research analysts recently commented on SKT shares. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Wednesday, April 13th. Vetr upgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $37.73 price objective on the stock in a research note on Monday, April 11th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Tanger Factory Outlet Centers in a research note on Saturday, April 23rd. Evercore ISI raised their price objective on shares of Tanger Factory Outlet Centers from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, March 21st. Finally, Hilliard Lyons lowered shares of Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.52.

The firm has a 50-day moving average of $37.45 and a 200-day moving average of $34.86. The stock has a market cap of $3.94 billion and a PE ratio of 19.58.

Tanger Factory Outlet Centers (NYSE:SKT) last released 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 business had revenue of $110.80 million for the quarter, compared to analysts’ expectations of $112.46 million. During the same quarter in the previous year, the business posted $0.50 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Tanger Factory Outlet Centers Inc. will post $2.32 earnings per share for the current year.

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

Several institutional investors recently made changes to their positions in SKT. California State Teachers Retirement System raised its position 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 worth $5,806,000 after buying an additional 2,729 shares during the last quarter. Numeric Investors LLC bought a new position in shares of Tanger Factory Outlet Centers during the fourth quarter worth about $1,269,000. First Trust Advisors LP raised its position in shares of Tanger Factory Outlet Centers by 441.2% in the fourth quarter. First Trust Advisors LP now owns 189,778 shares of the real estate investment trust’s stock worth $6,206,000 after buying an additional 154,714 shares during the last quarter. Rhumbline Advisers raised its position 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 worth $6,764,000 after buying an additional 1,324 shares during the last quarter. Finally, ProShare Advisors LLC raised its position 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 worth $1,739,000 after buying an additional 6,508 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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