Dupont Capital Management Corp Buys 5,859 Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT)

Dupont Capital Management Corp increased its stake in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 76.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,565 shares of the real estate investment trust’s stock after purchasing an additional 5,859 shares during the quarter. Dupont Capital Management Corp’s holdings in Tanger Factory Outlet Centers were worth $210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new stake in shares of Tanger Factory Outlet Centers during the second quarter valued at approximately $32,000. Sageworth Trust Co bought a new stake in shares of Tanger Factory Outlet Centers during the second quarter valued at approximately $45,000. Capital Investment Advisory Services LLC bought a new stake in shares of Tanger Factory Outlet Centers during the third quarter valued at approximately $51,000. AllSquare Wealth Management LLC acquired a new position in Tanger Factory Outlet Centers in the second quarter valued at approximately $75,000. Finally, Flagship Harbor Advisors LLC lifted its holdings in Tanger Factory Outlet Centers by 305.2% in the third quarter. Flagship Harbor Advisors LLC now owns 7,347 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 5,534 shares during the period. 98.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE SKT opened at $15.86 on Friday. The company’s 50 day simple moving average is $15.93 and its 200 day simple moving average is $16.35. Tanger Factory Outlet Centers Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $24.65. The firm has a market capitalization of $1.53 billion, a P/E ratio of 6.40 and a beta of 0.67. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.06 and a quick ratio of 0.12.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $118.99 million during the quarter, compared to analyst estimates of $117.49 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. Sell-side analysts expect that Tanger Factory Outlet Centers Inc. will post 2.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.355 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $1.42 annualized dividend and a yield of 8.95%. Tanger Factory Outlet Centers’s dividend payout ratio is currently 57.26%.

Several equities analysts recently weighed in on SKT shares. Zacks Investment Research upgraded shares of 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. ValuEngine upgraded shares of Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Tanger Factory Outlet Centers has an average rating of “Hold” and an average target price of $19.60.

In other news, Director Thomas Reddin bought 7,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were bought at an average cost of $14.62 per share, for a total transaction of $102,340.00. Following the completion of the acquisition, the director now owns 42,424 shares in the company, valued at approximately $620,238.88. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven B. Tanger bought 10,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average price of $14.48 per share, for a total transaction of $144,800.00. Following the completion of the acquisition, the chief executive officer now owns 1,188,888 shares of the company’s stock, valued at approximately $17,215,098.24. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.

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.

Recommended Story: Initial Coin Offerings entail a high degree of risk

Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Factory Outlet Centers Inc. (NYSE:SKT).

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

Receive News & Ratings for Tanger Factory Outlet Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tanger Factory Outlet Centers and related companies with MarketBeat.com's FREE daily email newsletter.