Tanger Factory Outlet Centers (NYSE:SKT) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Tanger Factory Outlet Centers (NYSE:SKT – Get Rating) in a research note published on Thursday morning. The firm issued a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on the company. Citigroup boosted their target price on Tanger Factory Outlet Centers from $15.00 to $20.00 in a research note on Wednesday, December 14th. Compass Point lowered Tanger Factory Outlet Centers from a buy rating to a neutral rating and set a $21.00 target price for the company. in a research note on Monday, January 30th.

Tanger Factory Outlet Centers Price Performance

SKT opened at $18.07 on Thursday. Tanger Factory Outlet Centers has a 12-month low of $13.26 and a 12-month high of $20.27. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 2.78. The stock has a 50-day moving average price of $18.55 and a 200-day moving average price of $17.68. The stock has a market capitalization of $1.89 billion, a P/E ratio of 23.47, a PEG ratio of 6.71 and a beta of 1.81.

Tanger Factory Outlet Centers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend was Monday, January 30th. Tanger Factory Outlet Centers’s payout ratio is 114.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund raised its position in Tanger Factory Outlet Centers by 2.4% during the 2nd quarter. Texas Permanent School Fund now owns 75,454 shares of the real estate investment trust’s stock valued at $1,073,000 after purchasing an additional 1,733 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Tanger Factory Outlet Centers by 3.9% in the 3rd quarter. Pacer Advisors Inc. now owns 622,050 shares of the real estate investment trust’s stock worth $8,510,000 after acquiring an additional 23,113 shares in the last quarter. Natixis bought a new position in shares of Tanger Factory Outlet Centers in the 2nd quarter worth approximately $883,000. Eagle Bay Advisors LLC bought a new position in shares of Tanger Factory Outlet Centers in the 2nd quarter worth approximately $50,000. Finally, Inspire Investing LLC raised its position in shares of Tanger Factory Outlet Centers by 9.5% in the 2nd quarter. Inspire Investing LLC now owns 14,937 shares of the real estate investment trust’s stock worth $212,000 after acquiring an additional 1,290 shares in the last quarter. Institutional investors own 74.61% of the company’s stock.

About Tanger Factory Outlet Centers

(Get Rating)

Tanger Factory Outlet Centers, Inc engages in the operation of upscale open-air outlet centers. The firm focuses on developing, acquiring, owning, operating, and managing outlet shopping centers. The company was founded by Stanley K. Tanger in 1981 and is headquartered in Greensboro, NC.