Tanger Factory Outlet Centers Inc. (SKT) Director Allan L. Schuman Sells 32,930 Shares

Tanger Factory Outlet Centers Inc. (NYSE:SKT) Director Allan L. Schuman sold 32,930 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $28.52, for a total transaction of $939,163.60. Following the completion of the sale, the director now directly owns 43,953 shares of the company’s stock, valued at $1,253,539.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.35. The firm had revenue of $121.37 million for the quarter, compared to analysts’ expectations of $122.59 million. Tanger Factory Outlet Centers had a net margin of 60.55% and a return on equity of 42.50%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share.

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

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were issued a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 5.27%. This is a boost from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, April 26th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is currently 44.98%.

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SKT has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a report on Friday, January 27th. Jefferies Group LLC dropped their price objective on shares of Tanger Factory Outlet Centers from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 27th. Finally, Evercore ISI upgraded shares of Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a research note on Friday, March 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Tanger Factory Outlet Centers presently has a consensus rating of “Hold” and an average price target of $40.60.

Several institutional investors have recently made changes to their positions in SKT. Summit Global Investments purchased a new position in shares of Tanger Factory Outlet Centers during the first quarter worth $440,000. Credit Suisse AG boosted its position in shares of Tanger Factory Outlet Centers by 5.7% in the first quarter. Credit Suisse AG now owns 428,564 shares of the real estate investment trust’s stock worth $14,043,000 after buying an additional 23,157 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Tanger Factory Outlet Centers during the first quarter worth $272,000. AQR Capital Management LLC boosted its position in shares of Tanger Factory Outlet Centers by 47.2% in the first quarter. AQR Capital Management LLC now owns 51,112 shares of the real estate investment trust’s stock worth $1,675,000 after buying an additional 16,396 shares in the last quarter. Finally, BlueCrest Capital Management Ltd boosted its position in shares of Tanger Factory Outlet Centers by 1,038.7% in the first quarter. BlueCrest Capital Management Ltd now owns 64,084 shares of the real estate investment trust’s stock worth $2,100,000 after buying an additional 58,456 shares in the last quarter. 94.39% of the stock is currently owned by institutional investors.

Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc is an owner and operator of outlet centers in the United States and Canada. The Company is a fully-integrated, self-administered and self-managed real estate investment trust (REIT), which focuses on developing, acquiring, owning, operating and managing outlet shopping centers.

12 Month Chart for NYSE:SKT

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