Tanger Factory Outlet Centers’ (SKT) “Hold” Rating Reiterated at Boenning Scattergood

Boenning Scattergood reiterated their hold rating on shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) in a research report sent to investors on Thursday. Boenning Scattergood also issued estimates for Tanger Factory Outlet Centers’ Q4 2017 earnings at $0.61 EPS, Q1 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.66 EPS and FY2018 earnings at $2.50 EPS.

A number of other research firms also recently issued reports on SKT. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a sell rating to a hold rating in a research report on Saturday, July 15th. BidaskClub upgraded shares of Tanger Factory Outlet Centers from a sell rating to a hold rating in a research report on Friday, August 4th. Jefferies Group LLC reiterated a hold rating and set a $26.00 target price on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. KeyCorp reiterated a hold rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Finally, Bank of America Corporation upgraded shares of Tanger Factory Outlet Centers from an underperform rating to a neutral rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $27.00.

Tanger Factory Outlet Centers (NYSE SKT) traded up $0.52 during trading on Thursday, hitting $24.27. 2,006,000 shares of the company were exchanged, compared to its average volume of 2,318,922. The company has a quick ratio of 0.12, a current ratio of 0.10 and a debt-to-equity ratio of 2.91. Tanger Factory Outlet Centers has a 52 week low of $21.81 and a 52 week high of $37.34. The firm has a market cap of $2,294.19, a P/E ratio of 11.84, a PEG ratio of 2.82 and a beta of 0.47.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.3425 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.37 annualized dividend and a yield of 5.64%. Tanger Factory Outlet Centers’s payout ratio is 220.97%.

In other news, SVP Carrie A. Geldner sold 1,800 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $24.18, for a total value of $43,524.00. Following the completion of the sale, the senior vice president now owns 53,511 shares in the company, valued at $1,293,895.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Tanger Factory Outlet Centers by 11.2% in the second quarter. State Street Corp now owns 11,298,397 shares of the real estate investment trust’s stock valued at $293,533,000 after purchasing an additional 1,140,291 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Tanger Factory Outlet Centers by 29.5% in the third quarter. Principal Financial Group Inc. now owns 5,110,454 shares of the real estate investment trust’s stock valued at $124,797,000 after purchasing an additional 1,163,429 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tanger Factory Outlet Centers by 4.7% in the third quarter. Bank of New York Mellon Corp now owns 2,556,803 shares of the real estate investment trust’s stock valued at $62,437,000 after purchasing an additional 115,480 shares during the last quarter. First Manhattan Co. raised its holdings in shares of Tanger Factory Outlet Centers by 32.1% in the third quarter. First Manhattan Co. now owns 1,408,982 shares of the real estate investment trust’s stock valued at $34,407,000 after purchasing an additional 342,144 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tanger Factory Outlet Centers by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,376,676 shares of the real estate investment trust’s stock valued at $35,768,000 after purchasing an additional 36,147 shares during the last quarter. Institutional investors own 96.91% of the company’s stock.

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.

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

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