Tanger Factory Outlet Centers Inc. (SKT) Shares Bought by Thrivent Financial for Lutherans

Tanger Factory Outlet Centers Inc. (SKT) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 2.7% during the fourth quarter, Holdings Channel reports. The fund owned 52,892 shares of the real estate investment trust’s stock after buying an additional 1,390 shares during the period. Thrivent Financial for Lutherans owned 0.06% of Tanger Factory Outlet Centers worth $1,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Tanger Factory Outlet Centers by 4.7% in the third quarter. BlackRock Inc. now owns 377,436 shares of the real estate investment trust’s stock worth $14,704,000 after buying an additional 17,087 shares during the last quarter. Suntrust Banks Inc. boosted its position in Tanger Factory Outlet Centers by 1.5% in the third quarter. Suntrust Banks Inc. now owns 97,217 shares of the real estate investment trust’s stock worth $3,784,000 after buying an additional 1,428 shares during the last quarter. Northern Trust Corp boosted its position in Tanger Factory Outlet Centers by 7.0% in the third quarter. Northern Trust Corp now owns 1,201,265 shares of the real estate investment trust’s stock worth $46,801,000 after buying an additional 78,916 shares during the last quarter. First Trust Advisors LP boosted its position in Tanger Factory Outlet Centers by 58.6% in the third quarter. First Trust Advisors LP now owns 241,409 shares of the real estate investment trust’s stock worth $9,405,000 after buying an additional 89,173 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Tanger Factory Outlet Centers by 7.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 253,700 shares of the real estate investment trust’s stock worth $8,944,000 after buying an additional 16,523 shares during the last quarter. Institutional investors own 94.39% of the company’s stock.

Tanger Factory Outlet Centers Inc. (NYSE:SKT) traded up 0.73% during mid-day trading on Wednesday, hitting $31.93. The company’s stock had a trading volume of 92,864 shares. Tanger Factory Outlet Centers Inc. has a 12-month low of $30.98 and a 12-month high of $42.20. The company has a market cap of $3.04 billion, a P/E ratio of 15.89 and a beta of 0.41. The firm’s 50-day moving average is $33.56 and its 200-day moving average is $35.66.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings results on Tuesday, February 14th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The firm earned $124.60 million during the quarter, compared to analyst estimates of $122.17 million. Tanger Factory Outlet Centers had a return on equity of 42.50% and a net margin of 60.55%. Tanger Factory Outlet Centers’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. Analysts predict that Tanger Factory Outlet Centers Inc. will post $1.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st were issued a $0.325 dividend. The ex-dividend date of this dividend was Friday, January 27th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 4.10%. Tanger Factory Outlet Centers’s payout ratio is 44.98%.

SKT has been the subject of a number of research analyst reports. Zacks Investment Research cut Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. Jefferies Group LLC lowered their target price on Tanger Factory Outlet Centers from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 27th. Evercore ISI raised Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a research report on Friday, March 3rd. Finally, Citigroup Inc lowered Tanger Factory Outlet Centers from a “neutral” rating to a “sell” rating and set a $33.00 price objective for the company. in a research report on Tuesday, December 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Tanger Factory Outlet Centers currently has an average rating of “Hold” and an average target price of $39.52.

In related news, VP Virginia R. Summerell sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $34.19, for a total value of $239,330.00. Following the completion of the sale, the vice president now owns 31,322 shares in the company, valued at $1,070,899.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carrie A. Geldner sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $33.75, for a total value of $67,500.00. Following the completion of the sale, the senior vice president now owns 56,756 shares of the company’s stock, valued at approximately $1,915,515. The disclosure for this sale can be found here. Insiders sold 28,295 shares of company stock valued at $966,913 in the last quarter. 2.10% of the stock is owned by company insiders.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. The Company’s consolidated portfolio consists of approximately 34 outlet centers, with a total gross leasable area of approximately 11.7 million square feet.

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