Steven B. Tanger Acquires 10,000 Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) Stock

Tanger Factory Outlet Centers Inc. (NYSE:SKT) CEO Steven B. Tanger purchased 10,000 shares of Tanger Factory Outlet Centers stock in a transaction dated Tuesday, August 20th. The stock was bought at an average cost of $14.48 per share, for a total transaction of $144,800.00. Following the completion of the purchase, the chief executive officer now directly owns 1,188,888 shares in the company, valued at approximately $17,215,098.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of SKT stock traded down $0.40 during trading on Tuesday, reaching $14.28. The company’s stock had a trading volume of 1,998,794 shares, compared to its average volume of 1,662,087. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 5.76 and a beta of 0.65. The stock’s 50-day moving average price is $15.95 and its 200 day moving average price is $18.49. Tanger Factory Outlet Centers Inc. has a 1-year low of $14.24 and a 1-year high of $24.74.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 9.94%. The ex-dividend date was Tuesday, July 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 57.26%.

A number of research analysts recently weighed in on SKT shares. Citigroup set a $16.00 price objective on shares of Tanger Factory Outlet Centers and gave the company a “hold” rating in a report on Friday, June 28th. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th. Finally, Goldman Sachs Group cut shares of Tanger Factory Outlet Centers from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $19.80 to $15.00 in a report on Thursday, May 9th. Five analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. Tanger Factory Outlet Centers has a consensus rating of “Sell” and a consensus target price of $21.00.

Several hedge funds have recently made changes to their positions in SKT. Marathon Asset Management LLP acquired a new stake in Tanger Factory Outlet Centers in the 2nd quarter valued at about $37,902,000. Schroder Investment Management Group grew its stake in Tanger Factory Outlet Centers by 822.7% in the second quarter. Schroder Investment Management Group now owns 1,639,540 shares of the real estate investment trust’s stock valued at $26,577,000 after purchasing an additional 1,461,848 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Tanger Factory Outlet Centers by 12,159.3% in the second quarter. Nuveen Asset Management LLC now owns 1,189,156 shares of the real estate investment trust’s stock valued at $19,277,000 after purchasing an additional 1,179,456 shares in the last quarter. Norges Bank bought a new position in Tanger Factory Outlet Centers in the fourth quarter valued at approximately $16,842,000. Finally, Marshall Wace North America L.P. bought a new position in Tanger Factory Outlet Centers in the first quarter valued at approximately $9,752,000. Hedge funds and other institutional investors own 97.90% of the company’s stock.

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 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.

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Insider Buying and Selling by Quarter for Tanger Factory Outlet Centers (NYSE:SKT)

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