Smith Salley & Associates trimmed its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 5.8% in the 3rd quarter, Holdings Channel reports. The fund owned 144,003 shares of the real estate investment trust’s stock after selling 8,868 shares during the quarter. Smith Salley & Associates’ holdings in Tanger Factory Outlet Centers were worth $3,295,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Qube Research & Technologies Ltd bought a new position in shares of Tanger Factory Outlet Centers during the second quarter valued at about $119,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Tanger Factory Outlet Centers during the second quarter valued at about $217,000. Farmers & Merchants Investments Inc. bought a new position in shares of Tanger Factory Outlet Centers during the second quarter valued at about $235,000. ARP Americas LP bought a new position in shares of Tanger Factory Outlet Centers during the second quarter valued at about $251,000. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Tanger Factory Outlet Centers by 49.4% during the first quarter. Xact Kapitalforvaltning AB now owns 14,811 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 4,900 shares during the last quarter.

In related news, SVP Carrie A. Warren sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $24.14, for a total transaction of $48,280.00. Following the transaction, the senior vice president now owns 53,501 shares in the company, valued at $1,291,514.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by insiders.

Shares of NYSE SKT opened at $23.63 on Friday. Tanger Factory Outlet Centers Inc. has a 1 year low of $19.86 and a 1 year high of $26.73. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.07 and a current ratio of 0.06. The stock has a market cap of $2.21 billion, a P/E ratio of 9.47, a P/E/G ratio of 2.05 and a beta of 0.42.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. Tanger Factory Outlet Centers had a net margin of 11.16% and a return on equity of 9.57%. The company had revenue of $124.24 million for the quarter, compared to analysts’ expectations of $119.47 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. Tanger Factory Outlet Centers’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend is Tuesday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 56.91%.

Several equities analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Tanger Factory Outlet Centers in a research note on Tuesday, October 16th. They set an “underperform” rating for the company. ValuEngine raised shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Zacks Investment Research raised shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Citigroup boosted their price target on shares of Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the company a “neutral” rating in a research report on Thursday, August 16th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Tanger Factory Outlet Centers has an average rating of “Hold” and an average target price of $21.83.

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Tanger Factory Outlet Centers 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 510 different brand name companies.

Further Reading: The Discount Rate – What You Need to Know

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

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