Tanger Factory Outlet Centers Inc. (SKT) Shares Sold by AEW Capital Management L P

AEW Capital Management L P trimmed its stake in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 11.7% during the second quarter, HoldingsChannel.com reports. The fund owned 1,529,420 shares of the real estate investment trust’s stock after selling 202,100 shares during the period. AEW Capital Management L P’s holdings in Tanger Factory Outlet Centers were worth $35,926,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SKT. Ceredex Value Advisors LLC acquired a new stake in shares of Tanger Factory Outlet Centers during the first quarter worth $63,994,000. Millennium Management LLC acquired a new stake in shares of Tanger Factory Outlet Centers during the first quarter worth $46,302,000. Principal Financial Group Inc. raised its holdings in shares of Tanger Factory Outlet Centers by 9.1% during the first quarter. Principal Financial Group Inc. now owns 8,239,374 shares of the real estate investment trust’s stock worth $181,266,000 after acquiring an additional 688,466 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Tanger Factory Outlet Centers during the first quarter worth $5,956,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Tanger Factory Outlet Centers by 25.0% during the first quarter. Hsbc Holdings PLC now owns 1,147,295 shares of the real estate investment trust’s stock worth $25,240,000 after acquiring an additional 229,183 shares during the period.

In related news, EVP Chad Perry sold 2,000 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $23.76, for a total value of $47,520.00. Following the completion of the transaction, the executive vice president now owns 89,017 shares of the company’s stock, valued at $2,115,043.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Charles Allen Worsham sold 4,400 shares of Tanger Factory Outlet Centers stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $21.12, for a total transaction of $92,928.00. Following the completion of the transaction, the senior vice president now directly owns 36,043 shares of the company’s stock, valued at approximately $761,228.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,257 shares of company stock valued at $201,604. 2.10% of the stock is owned by insiders.



SKT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. ValuEngine lowered shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. KeyCorp lowered shares of Tanger Factory Outlet Centers from a “sector weight” rating to an “underweight” rating and set a $19.00 price objective on the stock. in a report on Wednesday, May 2nd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Thursday, May 3rd. Five investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company has a consensus rating of “Sell” and an average target price of $22.67.

Tanger Factory Outlet Centers stock opened at $23.99 on Wednesday. The firm has a market capitalization of $2.22 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 1.88 and a beta of 0.55. Tanger Factory Outlet Centers Inc. has a 1-year low of $19.86 and a 1-year high of $26.73. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 3.07.

Tanger Factory Outlet Centers (NYSE:SKT) last released its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.35). The business had revenue of $117.08 million during the quarter, compared to the consensus estimate of $116.92 million. Tanger Factory Outlet Centers had a net margin of 12.60% and a return on equity of 10.34%. research analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Tuesday, July 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Monday, July 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 56.91%.

About Tanger Factory Outlet Centers

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 510 different brand name companies.

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

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