Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) during the third quarter, Holdings Channel reports. The fund acquired 60,000 shares of the real estate investment trust’s stock, valued at approximately $1,373,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Qube Research & Technologies Ltd bought a new stake in Tanger Factory Outlet Centers in the second quarter valued at about $119,000. Cambridge Investment Research Advisors Inc. bought a new stake in Tanger Factory Outlet Centers in the second quarter valued at about $217,000. Farmers & Merchants Investments Inc. bought a new stake in Tanger Factory Outlet Centers in the second quarter valued at about $235,000. ARP Americas LP bought a new stake in Tanger Factory Outlet Centers in the second quarter valued at about $251,000. Finally, Van ECK Associates Corp bought a new stake in Tanger Factory Outlet Centers in the second quarter valued at about $460,000. Institutional investors own 99.86% of the company’s stock.

NYSE:SKT opened at $23.57 on Monday. The company has a market cap of $2.21 billion, a PE ratio of 9.58, a P/E/G ratio of 2.05 and a beta of 0.42. Tanger Factory Outlet Centers Inc. has a 52 week low of $19.86 and a 52 week high of $26.73. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.06 and a quick ratio of 0.06.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The company had revenue of $124.24 million during the quarter, compared to analyst estimates of $119.47 million. Tanger Factory Outlet Centers had a return on equity of 9.57% and a net margin of 11.16%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Equities research analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 5.94%. Tanger Factory Outlet Centers’s dividend payout ratio is presently 56.91%.

Several brokerages recently weighed in on SKT. ValuEngine lowered Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. Scotiabank began coverage on Tanger Factory Outlet Centers in a report on Tuesday, October 16th. They issued an “underperform” rating for the company. Citigroup boosted their price objective on Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the company a “neutral” rating in a report on Thursday, August 16th. Finally, Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.83.

In other news, VP Lisa J. Morrison sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $23.89, for a total transaction of $203,065.00. Following the completion of the transaction, the vice president now directly owns 41,167 shares in the company, valued at $983,479.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carrie A. Warren sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $24.14, for a total value of $48,280.00. Following the transaction, the senior vice president now owns 53,501 shares of the company’s stock, valued at $1,291,514.14. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

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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: Float

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

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