Tanger Factory Outlet Centers, Inc. (NYSE:SKT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 13.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,519 shares of the real estate investment trust’s stock after selling 11,469 shares during the period. New York State Common Retirement Fund’s holdings in Tanger Factory Outlet Centers were worth $1,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of SKT. First Trust Advisors LP grew its stake in shares of Tanger Factory Outlet Centers by 9.7% in the first quarter. First Trust Advisors LP now owns 222,567 shares of the real estate investment trust’s stock worth $4,669,000 after acquiring an additional 19,691 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter worth $104,000. Envestnet Asset Management Inc. acquired a new position in shares of Tanger Factory Outlet Centers in the second quarter worth $580,000. Teacher Retirement System of Texas grew its stake in shares of Tanger Factory Outlet Centers by 17.6% in the second quarter. Teacher Retirement System of Texas now owns 12,257 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 1,830 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Tanger Factory Outlet Centers by 6.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 40,768 shares of the real estate investment trust’s stock worth $768,000 after acquiring an additional 2,510 shares in the last quarter. Institutional investors and hedge funds own 82.50% of the company’s stock.

In other news, EVP Chad Perry sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $21.28, for a total value of $106,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Shares of SKT opened at $19.44 on Friday. Tanger Factory Outlet Centers, Inc. has a 1-year low of $11.81 and a 1-year high of $22.51. The stock has a market cap of $2.02 billion, a PE ratio of -388.72, a price-to-earnings-growth ratio of 2.92 and a beta of 1.88. The company has a debt-to-equity ratio of 2.94, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a fifty day moving average price of $19.92 and a 200 day moving average price of $18.40.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings results on Sunday, October 31st. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.15). Tanger Factory Outlet Centers had a negative net margin of 0.87% and a negative return on equity of 0.80%. The company had revenue of $112.47 million during the quarter, compared to analysts’ expectations of $92.96 million. During the same period last year, the firm earned $0.44 earnings per share. Tanger Factory Outlet Centers’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts expect that Tanger Factory Outlet Centers, Inc. will post 1.26 EPS for the current fiscal year.

A number of brokerages recently commented on SKT. Compass Point upgraded shares of Tanger Factory Outlet Centers from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 3rd. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, November 9th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.17.

About Tanger Factory Outlet Centers

Tanger Factory Outlet Centers, Inc is a fully-integrated, self-administered and self-managed real estate investment trust. It 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.

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

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