Tanger Factory Outlet Centers Inc. (NYSE:SKT) hit a new 52-week high on Monday . The company traded as high as $41.75 and last traded at $41.51, with a volume of 190,493 shares changing hands. The stock had previously closed at $41.55.

A number of brokerages have weighed in on SKT. Hilliard Lyons lowered Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating in a report on Wednesday, July 6th. Vetr lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and set a $38.42 price objective on the stock. in a report on Monday, April 18th. Zacks Investment Research raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, April 13th. Citigroup Inc. lowered Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $34.00 to $35.00 in a report on Monday, April 4th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Tanger Factory Outlet Centers in a report on Saturday, April 23rd. One 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 company. Tanger Factory Outlet Centers has a consensus rating of “Hold” and a consensus price target of $37.52.

The stock’s 50 day moving average price is $38.43 and its 200-day moving average price is $35.14. The company has a market cap of $3.94 billion and a PE ratio of 19.58.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $110.80 million for the quarter, compared to the consensus estimate of $112.46 million. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, equities research analysts forecast that Tanger Factory Outlet Centers Inc. will post $2.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be given a dividend of $0.325 per share. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $1.30 annualized dividend and a yield of 3.13%.

In other Tanger Factory Outlet Centers news, EVP Chad Perry sold 1,000 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 66,321 shares in the company, valued at approximately $2,422,706.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Lisa J. Morrison sold 5,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $35.53, for a total transaction of $202,521.00. Following the transaction, the vice president now owns 38,904 shares of the company’s stock, valued at approximately $1,382,259.12. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its position in Tanger Factory Outlet Centers by 62.3% in the fourth quarter. Suntrust Banks Inc. now owns 71,229 shares of the real estate investment trust’s stock valued at $2,328,000 after buying an additional 27,329 shares during the last quarter. Employees Retirement System of Texas raised its position in Tanger Factory Outlet Centers by 62.1% in the fourth quarter. Employees Retirement System of Texas now owns 203,690 shares of the real estate investment trust’s stock valued at $6,661,000 after buying an additional 78,000 shares during the last quarter. Morgan Stanley raised its position in Tanger Factory Outlet Centers by 3.5% in the fourth quarter. Morgan Stanley now owns 6,533,824 shares of the real estate investment trust’s stock valued at $213,656,000 after buying an additional 223,185 shares during the last quarter. Rhumbline Advisers raised its position in 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 during the last quarter. Finally, ProShare Advisors LLC raised its position in 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.

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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