Tanger Factory Outlet Centers, Inc. (NYSE:SKT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Tanger Factory Outlet Centers, Inc. is a fully-integrated, self-administered and self-managed real estate investment trust which focuses exclusively on developing, acquiring, owning and operating factory outlet centers. Since entering the factory outlet center business, they have become one of the largest owners and operators of factory outlet centers in the United States. “

SKT has been the subject of a number of other reports. Jefferies Group LLC reissued a “hold” rating and issued a $26.00 price target on shares of Tanger Factory Outlet Centers in a report on Thursday, September 21st. Citigroup Inc. decreased their price target on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a report on Friday. KeyCorp reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a report on Friday, August 25th. Boenning Scattergood raised Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a report on Friday, November 3rd. Finally, Bank of America Corporation raised Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.00.

Tanger Factory Outlet Centers (NYSE SKT) opened at $24.49 on Tuesday. Tanger Factory Outlet Centers has a twelve month low of $21.81 and a twelve month high of $37.34. The stock has a market capitalization of $2,310.00, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 3.30 and a beta of 0.47. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10.

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In other news, SVP Carrie A. Geldner sold 1,800 shares of the company’s stock in a transaction that occurred 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 approximately $1,293,895.98. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Tanger Factory Outlet Centers by 199.1% during the second quarter. Principal Financial Group Inc. now owns 3,947,025 shares of the real estate investment trust’s stock worth $102,543,000 after purchasing an additional 2,627,566 shares in the last quarter. State Street Corp increased its position in shares of Tanger Factory Outlet Centers by 11.2% during the second quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock worth $293,533,000 after purchasing an additional 1,140,291 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Tanger Factory Outlet Centers by 278.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 678,150 shares of the real estate investment trust’s stock worth $17,618,000 after purchasing an additional 498,985 shares in the last quarter. BlueCrest Capital Management Ltd increased its position in shares of Tanger Factory Outlet Centers by 774.8% during the second quarter. BlueCrest Capital Management Ltd now owns 560,577 shares of the real estate investment trust’s stock worth $14,564,000 after purchasing an additional 496,493 shares in the last quarter. Finally, Numeric Investors LLC purchased a new stake in shares of Tanger Factory Outlet Centers during the second quarter worth approximately $12,855,000. 96.53% of the stock is owned by institutional investors and hedge funds.

Tanger Factory Outlet Centers Company 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.

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

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