Tanger Factory Outlet Centers (SKT) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in Tanger Factory Outlet Centers (NYSE:SKT) by 39.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,310 shares of the real estate investment trust’s stock after selling 8,817 shares during the period. Oppenheimer & Co. Inc.’s holdings in Tanger Factory Outlet Centers were worth $292,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SKT. Envestnet Asset Management Inc. boosted its position in Tanger Factory Outlet Centers by 69.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,963 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 2,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tanger Factory Outlet Centers by 34.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 2,107 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Tanger Factory Outlet Centers during the 4th quarter valued at $263,000. Lido Advisors LLC purchased a new position in shares of Tanger Factory Outlet Centers during the 4th quarter valued at $265,000. Finally, Vident Investment Advisory LLC purchased a new position in shares of Tanger Factory Outlet Centers during the 4th quarter valued at $296,000.

A number of research analysts have recently commented on the company. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, May 3rd. KeyCorp cut Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 price target on the stock. in a research report on Wednesday, May 2nd. ValuEngine cut Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, Evercore ISI cut Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a research report on Thursday, February 15th. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock has an average rating of “Sell” and a consensus target price of $23.70.

Shares of NYSE SKT opened at $20.16 on Friday. Tanger Factory Outlet Centers has a one year low of $20.05 and a one year high of $20.42. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $1.89 billion, a PE ratio of 8.20, a PEG ratio of 1.59 and a beta of 0.51.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.34). The firm had revenue of $123.50 million for the quarter, compared to analysts’ expectations of $120.93 million. Tanger Factory Outlet Centers had a net margin of 13.85% and a return on equity of 10.97%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 EPS. research analysts expect that Tanger Factory Outlet Centers will post 2.44 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were issued a dividend of $0.35 per share. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, April 27th. This represents a $1.40 dividend on an annualized basis and a yield of 6.94%. Tanger Factory Outlet Centers’s dividend payout ratio is 56.91%.

In related news, COO Thomas E. Mcdonough sold 11,276 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $22.55, for a total transaction of $254,273.80. Following the sale, the chief operating officer now owns 159,088 shares of the company’s stock, valued at approximately $3,587,434.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Virginia R. Summerell sold 5,800 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $22.90, for a total value of $132,820.00. Following the sale, the vice president now directly owns 32,025 shares in the company, valued at approximately $733,372.50. The disclosure for this sale can be found here. Insiders have sold a total of 17,515 shares of company stock worth $396,945 in the last three months. 2.10% of the stock is currently owned by insiders.

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 500 different brand name companies.

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

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