Jefferies Group LLC restated their hold rating on shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) in a report issued on Thursday. They currently have a $26.00 price target on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on the stock. Bank of America Corporation downgraded shares of Tanger Factory Outlet Centers from a neutral rating to an underperform rating and decreased their price target for the stock from $28.00 to $25.50 in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a sell rating to a hold rating in a research report on Saturday, July 15th. Boenning Scattergood set a $25.00 price objective on shares of Tanger Factory Outlet Centers and gave the company a sell rating in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Tanger Factory Outlet Centers from a strong sell rating to a sell rating in a research report on Thursday, June 29th. Finally, ValuEngine downgraded shares of Tanger Factory Outlet Centers from a buy rating to a hold rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Tanger Factory Outlet Centers currently has an average rating of Hold and an average price target of $32.00.

Shares of Tanger Factory Outlet Centers (SKT) opened at 24.34 on Thursday. The firm’s 50-day moving average is $24.71 and its 200-day moving average is $27.78. The company has a market cap of $2.31 billion, a PE ratio of 16.16 and a beta of 0.47. Tanger Factory Outlet Centers has a one year low of $23.06 and a one year high of $40.05.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Tanger Factory Outlet Centers had a net margin of 29.65% and a return on equity of 20.75%. The business had revenue of $119.60 million for the quarter, compared to the consensus estimate of $122.00 million. During the same period last year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that Tanger Factory Outlet Centers will post $0.77 EPS for the current year.

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

Several hedge funds have recently added to or reduced their stakes in the stock. Utah Retirement Systems boosted its stake in shares of Tanger Factory Outlet Centers by 1.0% during the 1st quarter. Utah Retirement Systems now owns 21,185 shares of the real estate investment trust’s stock worth $694,000 after purchasing an additional 200 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of 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 purchasing an additional 204 shares during the period. Advisor Group Inc. boosted its stake in shares of Tanger Factory Outlet Centers by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 303 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Tanger Factory Outlet Centers by 3.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,105 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 344 shares during the period. Finally, Advantus Capital Management Inc boosted its stake in shares of Tanger Factory Outlet Centers by 3.2% during the 1st quarter. Advantus Capital Management Inc now owns 12,324 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 385 shares during the period. 96.82% of the stock is owned by hedge funds and other institutional investors.

About Tanger Factory Outlet Centers

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.

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

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