American International Group Inc. Has $916,000 Holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

American International Group Inc. cut its holdings in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 1.1% in the first quarter, HoldingsChannel reports. The fund owned 60,563 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. American International Group Inc.’s holdings in Tanger Factory Outlet Centers were worth $916,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC raised its stake in shares of Tanger Factory Outlet Centers by 24.7% during the 4th quarter. Nuveen Asset Management LLC now owns 558,417 shares of the real estate investment trust’s stock worth $5,562,000 after purchasing an additional 110,702 shares in the last quarter. Norges Bank purchased a new stake in shares of Tanger Factory Outlet Centers during the 4th quarter worth about $11,752,000. Guild Investment Management Inc. purchased a new stake in shares of Tanger Factory Outlet Centers during the 1st quarter worth about $424,000. Amica Mutual Insurance Co. raised its stake in shares of Tanger Factory Outlet Centers by 66.6% during the 4th quarter. Amica Mutual Insurance Co. now owns 86,119 shares of the real estate investment trust’s stock worth $858,000 after purchasing an additional 34,436 shares in the last quarter. Finally, Amica Retiree Medical Trust raised its stake in shares of Tanger Factory Outlet Centers by 94.8% in the 4th quarter. Amica Retiree Medical Trust now owns 19,911 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 9,691 shares in the last quarter. Hedge funds and other institutional investors own 77.32% of the company’s stock.

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reissued a “sell” rating and issued a $12.50 price objective (up from $11.00) on shares of Tanger Factory Outlet Centers in a research note on Monday, March 15th. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Tanger Factory Outlet Centers has an average rating of “Hold” and an average target price of $9.64.

SKT opened at $19.04 on Friday. Tanger Factory Outlet Centers, Inc. has a 12-month low of $5.46 and a 12-month high of $22.40. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 44.28, a P/E/G ratio of 10.53 and a beta of 2.03. The firm has a 50 day simple moving average of $17.22. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.96 and a quick ratio of 2.96.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings results on Wednesday, May 5th. The real estate investment trust reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.32). Tanger Factory Outlet Centers had a net margin of 10.63% and a return on equity of 10.59%. As a group, equities research analysts expect that Tanger Factory Outlet Centers, Inc. will post 1.45 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Friday, April 30th were given a dividend of $0.177 per share. The ex-dividend date was Thursday, April 29th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.72%. Tanger Factory Outlet Centers’s payout ratio is currently 44.94%.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc (NYSE: SKT) is a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers. Tanger's operating properties are located in 20 states and in Canada, totaling approximately 14.1 million square feet, leased to over 2,700 stores operated by more than 500 different brand name companies.

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Institutional Ownership by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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