Tanger Factory Outlet Centers, Inc. (SKT) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Tanger Factory Outlet Centers, Inc. is a fully-integrated, self-administered and self-managed real estate investment trust which focuses exclusively on developing, acquiring, owning and operating factory outlet centers. Since entering the factory outlet center business, they have become one of the largest owners and operators of factory outlet centers in the United States. “

Other analysts have also recently issued research reports about the company. BidaskClub upgraded Tanger Factory Outlet Centers from a sell rating to a hold rating in a research report on Friday, August 4th. Jefferies Group LLC reiterated a hold rating and set a $26.00 target price on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. KeyCorp reiterated a hold rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Boenning Scattergood reiterated a hold rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Finally, Bank of America Corporation upgraded Tanger Factory Outlet Centers from an underperform rating to a neutral rating in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Tanger Factory Outlet Centers currently has a consensus rating of Hold and a consensus price target of $27.00.

Tanger Factory Outlet Centers (NYSE:SKT) traded down $0.41 during trading hours on Tuesday, hitting $24.52. The company had a trading volume of 1,557,358 shares, compared to its average volume of 1,589,667. The company has a debt-to-equity ratio of 2.91, a current ratio of 0.10 and a quick ratio of 0.10. Tanger Factory Outlet Centers has a 12-month low of $21.81 and a 12-month high of $37.34. The stock has a market capitalization of $2,360.00, a PE ratio of 12.06, a P/E/G ratio of 3.35 and a beta of 0.47.

ILLEGAL ACTIVITY NOTICE: “Tanger Factory Outlet Centers, Inc. (SKT) Upgraded by Zacks Investment Research to Hold” was posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://transcriptdaily.com/2017/11/18/tanger-factory-outlet-centers-inc-skt-upgraded-by-zacks-investment-research-to-hold.html.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a yield of 5.59%. The ex-dividend date was Monday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio is presently 220.97%.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $24.18, for a total transaction of $43,524.00. Following the completion of the transaction, the senior vice president now owns 53,511 shares in the company, valued at approximately $1,293,895.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RMR Advisors LLC purchased a new position in Tanger Factory Outlet Centers during the 2nd quarter valued at approximately $114,000. Salem Investment Counselors Inc. grew its holdings in Tanger Factory Outlet Centers by 164.2% during the 2nd quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 3,045 shares in the last quarter. Advisor Group Inc. grew its holdings in Tanger Factory Outlet Centers by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 303 shares in the last quarter. Capital Advisors Ltd. LLC purchased a new position in Tanger Factory Outlet Centers during the 3rd quarter valued at approximately $134,000. Finally, LS Investment Advisors LLC grew its holdings in Tanger Factory Outlet Centers by 19.9% during the 2nd quarter. LS Investment Advisors LLC now owns 7,629 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 1,266 shares in the last quarter. Institutional investors and hedge funds own 96.53% 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.

Get a free copy of the Zacks research report on Tanger Factory Outlet Centers (SKT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

Receive News & Ratings for Tanger Factory Outlet Centers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply