Chicago Equity Partners LLC grew its position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 47.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 127,310 shares of the real estate investment trust’s stock after acquiring an additional 40,730 shares during the period. Chicago Equity Partners LLC owned 0.14% of Tanger Factory Outlet Centers worth $2,574,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Tanger Factory Outlet Centers by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 14,048,190 shares of the real estate investment trust’s stock valued at $321,422,000 after acquiring an additional 64,251 shares during the last quarter. Vanguard Group Inc raised its position in Tanger Factory Outlet Centers by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 14,048,190 shares of the real estate investment trust’s stock worth $321,422,000 after purchasing an additional 64,251 shares during the last quarter. BlackRock Inc. raised its position in Tanger Factory Outlet Centers by 1.0% during the 3rd quarter. BlackRock Inc. now owns 13,724,745 shares of the real estate investment trust’s stock worth $314,024,000 after purchasing an additional 138,808 shares during the last quarter. Bank of New York Mellon Corp raised its position in Tanger Factory Outlet Centers by 7.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,761,548 shares of the real estate investment trust’s stock worth $41,378,000 after purchasing an additional 116,626 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Tanger Factory Outlet Centers by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,524,609 shares of the real estate investment trust’s stock worth $34,882,000 after purchasing an additional 5,429 shares during the last quarter. Institutional investors own 99.87% of the company’s stock.
Shares of NYSE:SKT opened at $22.22 on Thursday. The firm has a market cap of $2.10 billion, a P/E ratio of 9.03, a P/E/G ratio of 1.96 and a beta of 0.81. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.06 and a quick ratio of 0.06. Tanger Factory Outlet Centers Inc. has a 12-month low of $19.76 and a 12-month high of $24.91.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.30%. The ex-dividend date is Wednesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio is currently 56.91%.
In other Tanger Factory Outlet Centers news, EVP Chad Perry sold 2,500 shares of the stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $23.26, for a total transaction of $58,150.00. Following the completion of the sale, the executive vice president now directly owns 86,517 shares in the company, valued at approximately $2,012,385.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Charles Allen Worsham sold 3,550 shares of the stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $23.63, for a total value of $83,886.50. Following the sale, the senior vice president now owns 32,493 shares of the company’s stock, valued at $767,809.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,646 shares of company stock valued at $179,287. 2.10% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on SKT shares. JPMorgan Chase & Co. lowered Tanger Factory Outlet Centers from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $24.00 to $22.00 in a research report on Wednesday, December 19th. ValuEngine raised Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 6th. Finally, Zacks Investment Research raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Thursday, December 20th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has a consensus rating of “Sell” and an average price target of $22.13.
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Tanger Factory Outlet Centers Company 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 530 different brand name companies.
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