BB&T Securities LLC Buys 3,648 Shares of Tanger Factory Outlet Centers (SKT)

BB&T Securities LLC lifted its stake in Tanger Factory Outlet Centers (NYSE:SKT) by 29.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,106 shares of the real estate investment trust’s stock after buying an additional 3,648 shares during the quarter. BB&T Securities LLC’s holdings in Tanger Factory Outlet Centers were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SKT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tanger Factory Outlet Centers by 34.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 2,107 shares during the period. Lido Advisors LLC bought a new position in shares of Tanger Factory Outlet Centers in the fourth quarter worth about $265,000. Vident Investment Advisory LLC bought a new position in shares of Tanger Factory Outlet Centers in the fourth quarter worth about $296,000. Schroder Investment Management Group bought a new position in shares of Tanger Factory Outlet Centers in the third quarter worth about $303,000. Finally, Advisor Group Inc. raised its stake in shares of Tanger Factory Outlet Centers by 135.7% in the fourth quarter. Advisor Group Inc. now owns 14,227 shares of the real estate investment trust’s stock worth $377,000 after buying an additional 8,190 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of SKT opened at $22.00 on Monday. The company has a market cap of $2,079.84, a P/E ratio of 8.94, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. Tanger Factory Outlet Centers has a 12-month low of $21.14 and a 12-month high of $33.68. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.07 and a current ratio of 0.07.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $126.49 million for the quarter, compared to the consensus estimate of $122.67 million. Tanger Factory Outlet Centers had a return on equity of 10.45% and a net margin of 13.80%. equities analysts expect that Tanger Factory Outlet Centers will post 2.45 EPS for the current year.

In other Tanger Factory Outlet Centers news, COO Thomas E. Mcdonough sold 11,276 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $22.55, for a total value of $254,273.80. Following the sale, the chief operating officer now owns 159,088 shares of the company’s stock, valued at approximately $3,587,434.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Virginia R. Summerell sold 5,800 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $22.90, for a total value of $132,820.00. Following the completion of the sale, the vice president now directly owns 32,025 shares in the company, valued at approximately $733,372.50. The disclosure for this sale can be found here. Insiders have sold a total of 17,515 shares of company stock worth $396,945 in the last three months. 4.80% of the stock is owned by corporate insiders.

Several analysts recently issued reports on the company. Boenning Scattergood reissued a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, February 15th. Evercore ISI downgraded Tanger Factory Outlet Centers from an “in-line” rating to an “underperform” rating in a research note on Thursday, February 15th. ValuEngine downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Finally, Jefferies Group reissued a “hold” rating and set a $24.00 target price on shares of Tanger Factory Outlet Centers in a research note on Friday, December 22nd. Four equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.88.

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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 500 different brand name companies.

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

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