Tanger Factory Outlet Centers Inc. (NYSE:SKT) Short Interest Up 9.1% in December

Tanger Factory Outlet Centers Inc. (NYSE:SKT) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 52,450,000 shares, an increase of 9.1% from the December 15th total of 48,060,000 shares. Based on an average daily volume of 3,090,000 shares, the days-to-cover ratio is presently 17.0 days. Currently, 57.8% of the company’s shares are short sold.

A number of equities analysts have recently commented on the company. KeyCorp cut their price objective on Tanger Factory Outlet Centers from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Tuesday, December 17th. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, September 18th. Finally, ValuEngine upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.80.

Shares of SKT stock traded down $0.06 during trading hours on Thursday, reaching $15.42. The company had a trading volume of 2,348,138 shares, compared to its average volume of 4,254,605. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.06 and a current ratio of 0.06. Tanger Factory Outlet Centers has a twelve month low of $13.61 and a twelve month high of $23.14. The company has a market capitalization of $1.45 billion, a P/E ratio of 6.22 and a beta of 0.64. The stock’s fifty day simple moving average is $15.19 and its 200 day simple moving average is $15.60.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.31). Tanger Factory Outlet Centers had a net margin of 24.51% and a return on equity of 23.49%. The company had revenue of $118.99 million during the quarter, compared to analyst estimates of $117.49 million. During the same quarter last year, the business posted $0.63 EPS. Tanger Factory Outlet Centers’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts expect that Tanger Factory Outlet Centers will post 2.23 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.355 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 9.21%. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 57.26%.

In related news, insider Stewart Martin 800,000 shares of the business’s stock in a transaction on Wednesday, October 30th. Company insiders own 2.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of SKT. Usca Ria LLC acquired a new stake in Tanger Factory Outlet Centers during the 3rd quarter valued at approximately $25,000. Capital Investment Advisory Services LLC acquired a new stake in Tanger Factory Outlet Centers during the 3rd quarter valued at approximately $51,000. Flagship Harbor Advisors LLC grew its stake in Tanger Factory Outlet Centers by 305.2% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 7,347 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 5,534 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in Tanger Factory Outlet Centers during the 3rd quarter valued at approximately $160,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Tanger Factory Outlet Centers by 10.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,316 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 1,215 shares in the last quarter.

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 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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