Tanger Factory Outlet Centers Inc. (NYSE:SKT) has received an average rating of “Sell” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $22.67.

A number of analysts have weighed in on the stock. KeyCorp downgraded shares of Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 target price for the company. in a research report on Wednesday, May 2nd. ValuEngine downgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, May 3rd.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Warren sold 2,357 shares of the stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $20.80, for a total transaction of $49,025.60. Following the transaction, the senior vice president now directly owns 55,501 shares in the company, valued at approximately $1,154,420.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Charles Allen Worsham sold 4,400 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $21.12, for a total value of $92,928.00. Following the transaction, the senior vice president now owns 36,043 shares in the company, valued at $761,228.16. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its holdings in shares of Tanger Factory Outlet Centers by 69.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,963 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 2,863 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Tanger Factory Outlet Centers in the 4th quarter worth $263,000. Lido Advisors LLC bought a new position in shares of Tanger Factory Outlet Centers in the 4th quarter worth $265,000. GSA Capital Partners LLP bought a new position in shares of Tanger Factory Outlet Centers in the 1st quarter worth $238,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Tanger Factory Outlet Centers in the 4th quarter worth $296,000.

Shares of Tanger Factory Outlet Centers stock traded up $0.47 on Friday, hitting $23.75. The stock had a trading volume of 38,954 shares, compared to its average volume of 1,439,955. Tanger Factory Outlet Centers has a twelve month low of $19.86 and a twelve month high of $27.88. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $2.21 billion, a P/E ratio of 9.50, a P/E/G ratio of 1.87 and a beta of 0.51.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.34). The firm had revenue of $123.50 million during the quarter, compared to analyst estimates of $120.93 million. Tanger Factory Outlet Centers had a net margin of 13.85% and a return on equity of 10.97%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 EPS. equities analysts anticipate that Tanger Factory Outlet Centers will post 2.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Tuesday, July 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Monday, July 30th. Tanger Factory Outlet Centers’s dividend payout ratio is presently 56.91%.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 490 different brand name companies.

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

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