Tanger Factory Outlet Centers (SKT) Cut to “Hold” at ValuEngine

ValuEngine cut shares of Tanger Factory Outlet Centers (NYSE:SKT) from a buy rating to a hold rating in a research report report published on Sunday morning.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Tanger Factory Outlet Centers from a hold rating to a sell rating in a research report on Wednesday, October 25th. Boenning Scattergood reaffirmed a hold rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, November 9th. Jefferies Group reaffirmed a hold rating and issued a $26.00 target price on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. Citigroup cut their target price on Tanger Factory Outlet Centers from $27.00 to $25.00 and set a sell rating on the stock in a research report on Friday, November 10th. Finally, Bank of America raised Tanger Factory Outlet Centers from an underperform rating to a neutral rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $26.60.

Shares of Tanger Factory Outlet Centers (NYSE SKT) traded down $0.60 on Friday, hitting $25.63. The company had a trading volume of 1,727,043 shares, compared to its average volume of 1,642,681. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.91. The stock has a market cap of $2,420.00, a price-to-earnings ratio of 41.34, a P/E/G ratio of 3.36 and a beta of 0.52. Tanger Factory Outlet Centers has a twelve month low of $21.81 and a twelve month high of $37.34.

In other Tanger Factory Outlet Centers news, CMO Carrie A. Geldner sold 2,250 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $24.50, for a total value of $55,125.00. Following the transaction, the chief marketing officer now directly owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Dean Investment Associates LLC raised its position in Tanger Factory Outlet Centers by 9.1% in the third quarter. Dean Investment Associates LLC now owns 283,853 shares of the real estate investment trust’s stock valued at $6,932,000 after purchasing an additional 23,783 shares during the period. Eii Capital Management Inc. purchased a new position in Tanger Factory Outlet Centers in the third quarter valued at about $605,000. Ameritas Investment Partners Inc. raised its position in Tanger Factory Outlet Centers by 29.6% in the third quarter. Ameritas Investment Partners Inc. now owns 36,776 shares of the real estate investment trust’s stock valued at $868,000 after purchasing an additional 8,400 shares during the period. California Public Employees Retirement System raised its position in Tanger Factory Outlet Centers by 5.4% in the third quarter. California Public Employees Retirement System now owns 219,548 shares of the real estate investment trust’s stock valued at $5,361,000 after purchasing an additional 11,248 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Tanger Factory Outlet Centers by 41.6% in the third quarter. Janney Montgomery Scott LLC now owns 66,423 shares of the real estate investment trust’s stock valued at $1,622,000 after purchasing an additional 19,516 shares during the period. 99.52% of the stock is currently owned by institutional investors.

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Tanger Factory Outlet Centers Company Profile

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.

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

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