Tanger Factory Outlet Centers Inc. (NYSE:SKT) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $41.85 and last traded at $41.76, with a volume of 602,267 shares traded. The stock had previously closed at $41.44.

SKT has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Thursday, July 21st. Vetr upgraded Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $37.73 price objective for the company in a report on Monday, April 11th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Tanger Factory Outlet Centers in a report on Saturday, April 23rd. Hilliard Lyons cut Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating in a report on Wednesday, July 6th. Finally, Citigroup Inc. cut Tanger Factory Outlet Centers from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $34.00 to $35.00 in a report on Monday, April 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.33.

The company’s 50-day moving average is $39.94 and its 200 day moving average is $35.74. The stock has a market capitalization of $4.01 billion and a price-to-earnings ratio of 15.98.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The firm earned $111.30 million during the quarter, compared to analysts’ expectations of $107.85 million. During the same quarter last year, the business posted $0.51 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts anticipate that Tanger Factory Outlet Centers Inc. will post $2.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $1.30 annualized dividend and a yield of 3.11%.

In other news, CEO Steven B. Tanger sold 85,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $35.79, for a total transaction of $3,042,150.00. Following the completion of the transaction, the chief executive officer now directly owns 882,528 shares of the company’s stock, valued at approximately $31,585,677.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Manuel O. Jessup sold 1,000 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $35.50, for a total transaction of $35,500.00. Following the transaction, the vice president now directly owns 22,400 shares of the company’s stock, valued at $795,200. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Advantus Capital Management Inc increased its position in 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 worth $1,603,000 after buying an additional 35,680 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in Tanger Factory Outlet Centers by 44.2% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 58,787 shares of the real estate investment trust’s stock worth $1,922,000 after buying an additional 18,009 shares in the last quarter. Suntrust Banks Inc. increased 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 worth $2,328,000 after buying an additional 27,329 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in Tanger Factory Outlet Centers by 85.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 103,167 shares of the real estate investment trust’s stock worth $3,374,000 after buying an additional 47,664 shares in the last quarter. Finally, Comerica Bank increased its position in Tanger Factory Outlet Centers by 65.0% in the fourth quarter. Comerica Bank now owns 109,942 shares of the real estate investment trust’s stock worth $3,574,000 after buying an additional 43,316 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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