Panagora Asset Management Inc. raised its position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 1,122.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 84,716 shares of the real estate investment trust’s stock after acquiring an additional 77,786 shares during the period. Panagora Asset Management Inc. owned approximately 0.09% of Tanger Factory Outlet Centers worth $1,373,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SKT. Prudential Financial Inc. raised its position in shares of Tanger Factory Outlet Centers by 7.3% during the second quarter. Prudential Financial Inc. now owns 64,554 shares of the real estate investment trust’s stock worth $1,046,000 after purchasing an additional 4,410 shares during the period. Schroder Investment Management Group grew its position in Tanger Factory Outlet Centers by 822.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,639,540 shares of the real estate investment trust’s stock valued at $26,577,000 after purchasing an additional 1,461,848 shares during the period. Landscape Capital Management L.L.C. grew its position in Tanger Factory Outlet Centers by 68.5% in the 2nd quarter. Landscape Capital Management L.L.C. now owns 173,379 shares of the real estate investment trust’s stock valued at $2,810,000 after purchasing an additional 70,471 shares during the period. Alps Advisors Inc. increased its stake in Tanger Factory Outlet Centers by 20.4% during the 2nd quarter. Alps Advisors Inc. now owns 48,876 shares of the real estate investment trust’s stock valued at $792,000 after purchasing an additional 8,290 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Tanger Factory Outlet Centers by 25.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 219,555 shares of the real estate investment trust’s stock valued at $3,517,000 after purchasing an additional 44,947 shares in the last quarter. 98.09% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Steven B. Tanger purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average cost of $14.48 per share, with a total value of $144,800.00. Following the transaction, the chief executive officer now owns 1,188,888 shares of the company’s stock, valued at approximately $17,215,098.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Reddin acquired 7,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were bought at an average price of $14.62 per share, for a total transaction of $102,340.00. Following the completion of the purchase, the director now owns 42,424 shares in the company, valued at approximately $620,238.88. The disclosure for this purchase can be found here. 2.30% of the stock is owned by insiders.

Shares of Tanger Factory Outlet Centers stock traded down $0.01 on Wednesday, hitting $16.99. The company had a trading volume of 61,381 shares, compared to its average volume of 2,197,564. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 6.85 and a beta of 0.68. Tanger Factory Outlet Centers Inc. has a 1 year low of $13.61 and a 1 year high of $24.65. The stock has a 50 day moving average of $15.20 and a 200-day moving average of $17.66. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.12 and a current ratio of 0.12.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a $0.355 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 8.36%. Tanger Factory Outlet Centers’s dividend payout ratio is presently 57.26%.

A number of research analysts have weighed in on SKT shares. Citigroup set a $16.00 price objective on shares of Tanger Factory Outlet Centers and gave the company a “hold” rating in a research note on Friday, June 28th. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. Tanger Factory Outlet Centers currently has a consensus rating of “Sell” and a consensus target price of $21.00.

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 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.

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

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