Westpac Banking Corp increased its stake in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 115,426 shares of the real estate investment trust’s stock after buying an additional 3,430 shares during the period. Westpac Banking Corp owned approximately 0.12% of Tanger Factory Outlet Centers worth $3,832,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Tanger Factory Outlet Centers by 45.6% in the first quarter. Goldman Sachs Group Inc. now owns 716,313 shares of the real estate investment trust’s stock valued at $26,067,000 after buying an additional 224,496 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Tanger Factory Outlet Centers by 5.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 55,150 shares of the real estate investment trust’s stock valued at $1,803,000 after buying an additional 2,980 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Tanger Factory Outlet Centers by 19.2% in the first quarter. Renaissance Technologies LLC now owns 1,743,500 shares of the real estate investment trust’s stock valued at $63,446,000 after buying an additional 281,400 shares during the last quarter. Eqis Capital Management Inc. bought a new stake in shares of Tanger Factory Outlet Centers during the second quarter valued at about $276,000. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Tanger Factory Outlet Centers by 14.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 172,832 shares of the real estate investment trust’s stock valued at $6,945,000 after buying an additional 22,190 shares during the last quarter. Institutional investors own 97.11% of the company’s stock.

Tanger Factory Outlet Centers Inc. (NYSE:SKT) opened at 39.70 on Friday. The firm’s 50 day moving average price is $39.98 and its 200-day moving average price is $37.94. The company has a market capitalization of $3.78 billion, a PE ratio of 15.16 and a beta of 0.49. Tanger Factory Outlet Centers Inc. has a one year low of $29.46 and a one year high of $42.20.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Tanger Factory Outlet Centers had a return on equity of 41.28% and a net margin of 55.84%. The company had revenue of $111.30 million for the quarter, compared to analysts’ expectations of $107.85 million. During the same quarter in the prior year, the business posted $0.51 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Tanger Factory Outlet Centers Inc. will post $2.35 earnings per share for the current fiscal year.

SKT has been the topic of several research analyst reports. RBC Capital Markets restated an “outperform” rating and issued a $48.00 price objective (up previously from $44.00) on shares of Tanger Factory Outlet Centers in a research note on Monday, August 1st. Hilliard Lyons upgraded shares of Tanger Factory Outlet Centers from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Thursday, July 21st. Citigroup Inc. raised their price objective on shares of Tanger Factory Outlet Centers from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, Royal Bank Of Canada raised their price objective on shares of Tanger Factory Outlet Centers from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $40.96.

In other news, SVP Carrie A. Geldner sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $40.47, for a total transaction of $60,705.00. Following the sale, the senior vice president now owns 50,189 shares in the company, valued at approximately $2,031,148.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Tanger Factory Outlet Centers Company Profile

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.

5 Day Chart for NYSE:SKT

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