Tanger Factory Outlet Centers Inc. (SKT) Shares Reduced by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Tanger Factory Outlet Centers Inc. (SKT) Shares Reduced by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 1.1% during the first quarter, Holdings Channel reports. The firm owned 14,061 shares of the real estate investment trust’s stock after selling 162 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tanger Factory Outlet Centers were worth $461,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in SKT. Glen Harbor Capital Management LLC boosted its position in shares of Tanger Factory Outlet Centers by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 3,476 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 132 shares during the last quarter. Elkfork Partners LLC boosted its position in shares of Tanger Factory Outlet Centers by 3.9% in the first quarter. Elkfork Partners LLC now owns 4,424 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 168 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Tanger Factory Outlet Centers by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 5,372 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 204 shares during the last quarter. World Asset Management Inc boosted its position in shares of Tanger Factory Outlet Centers by 13.7% in the first quarter. World Asset Management Inc now owns 6,624 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 798 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Tanger Factory Outlet Centers during the fourth quarter worth about $240,000. Institutional investors own 94.39% of the company’s stock.

Tanger Factory Outlet Centers Inc. (NYSE:SKT) opened at 25.92 on Monday. Tanger Factory Outlet Centers Inc. has a 52-week low of $24.71 and a 52-week high of $42.20. The stock has a 50 day moving average price of $28.69 and a 200 day moving average price of $32.74. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 13.23 and a beta of 0.41.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.58 by $0.35. Tanger Factory Outlet Centers had a return on equity of 42.50% and a net margin of 60.55%. The business had revenue of $121.37 million during the quarter, compared to the consensus estimate of $122.59 million. During the same period in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts anticipate 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 Monday, May 15th. Shareholders of record on Friday, April 28th were given a dividend of $0.3425 per share. The ex-dividend date of this dividend was Wednesday, April 26th. This represents a $1.37 dividend on an annualized basis and a yield of 5.29%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.33. Tanger Factory Outlet Centers’s dividend payout ratio is 44.98%.

A number of equities analysts have recently issued reports on the company. Evercore ISI raised Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a report on Friday, March 3rd. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Wednesday, March 29th. Finally, ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.60.

In other news, COO Thomas E. Mcdonough sold 10,409 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $32.69, for a total transaction of $340,270.21. Following the transaction, the chief operating officer now owns 191,285 shares of the company’s stock, valued at approximately $6,253,106.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan L. Schuman sold 32,930 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $28.52, for a total transaction of $939,163.60. Following the transaction, the director now directly owns 43,953 shares in the company, valued at approximately $1,253,539.56. The disclosure for this sale can be found here. Insiders have sold 51,339 shares of company stock worth $1,499,994 in the last ninety days. Insiders own 2.10% of the company’s stock.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SKT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Factory Outlet Centers Inc. (NYSE:SKT).

Related posts

Leave a Comment