Oppenheimer & Co. Inc. increased its position in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 44.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,839 shares of the real estate investment trust’s stock after acquiring an additional 3,641 shares during the period. Oppenheimer & Co. Inc.’s holdings in Tanger Factory Outlet Centers were worth $308,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Glen Harbor Capital Management LLC grew its position in Tanger Factory Outlet Centers by 3.9% during the 1st quarter. Glen Harbor Capital Management LLC now owns 3,476 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 132 shares during the last quarter. RMR Advisors LLC bought a new stake in Tanger Factory Outlet Centers during the 2nd quarter worth $114,000. Elkfork Partners LLC grew its position in Tanger Factory Outlet Centers by 3.9% during the 1st quarter. Elkfork Partners LLC now owns 4,424 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 168 shares during the last quarter. Meadow Creek Investment Management LLC grew its position in Tanger Factory Outlet Centers by 3.9% during the 1st quarter. Meadow Creek Investment Management LLC now owns 5,372 shares of the real estate investment trust’s stock worth $176,000 after acquiring an additional 204 shares during the last quarter. Finally, World Asset Management Inc grew its position in Tanger Factory Outlet Centers by 13.7% during the 1st quarter. World Asset Management Inc now owns 6,624 shares of the real estate investment trust’s stock worth $217,000 after acquiring an additional 798 shares during the last quarter. Institutional investors and hedge funds own 96.82% of the company’s stock.

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Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) opened at 24.71 on Tuesday. The firm has a 50 day moving average price of $24.77 and a 200-day moving average price of $27.84. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 16.41 and a beta of 0.47. Tanger Factory Outlet Centers, Inc. has a 52-week low of $23.06 and a 52-week high of $40.05.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. The firm had revenue of $119.60 million for the quarter, compared to the consensus estimate of $122.00 million. Tanger Factory Outlet Centers had a return on equity of 20.75% and a net margin of 29.65%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 earnings per share. Equities research analysts anticipate that Tanger Factory Outlet Centers, Inc. will post $0.78 earnings per share for the current year.

In other news, COO Thomas E. Mcdonough sold 10,734 shares of Tanger Factory Outlet Centers stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total value of $287,027.16. Following the transaction, the chief operating officer now owns 180,551 shares in the company, valued at $4,827,933.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Carrie A. Geldner sold 1,800 shares of Tanger Factory Outlet Centers stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total value of $43,524.00. Following the completion of the transaction, the senior vice president now owns 53,511 shares in the company, valued at approximately $1,293,895.98. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on SKT shares. BidaskClub upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Citigroup Inc. upgraded Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research report on Monday, June 12th. ValuEngine lowered Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Saturday, July 15th. Finally, KeyCorp restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Tanger Factory Outlet Centers presently has an average rating of “Hold” and an average price target of $32.43.

Tanger Factory Outlet Centers Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

Institutional Ownership by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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