APG Asset Management N.V. Takes Position in Tanger Factory Outlet Centers Inc. (NYSE:SKT)

APG Asset Management N.V. bought a new position in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 89,200 shares of the real estate investment trust’s stock, valued at approximately $1,667,000. APG Asset Management N.V. owned about 0.10% of Tanger Factory Outlet Centers at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SKT. First Trust Advisors LP raised its stake in 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 valued at $4,669,000 after buying an additional 19,691 shares during the last quarter. Swiss National Bank increased its holdings in shares of Tanger Factory Outlet Centers by 1.4% during the fourth quarter. Swiss National Bank now owns 179,100 shares of the real estate investment trust’s stock valued at $2,638,000 after acquiring an additional 2,500 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Tanger Factory Outlet Centers by 119.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,468 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 5,162 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Tanger Factory Outlet Centers by 33.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,316 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 5,051 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Tanger Factory Outlet Centers by 4.3% during the 4th quarter. Prudential Financial Inc. now owns 65,413 shares of the real estate investment trust’s stock valued at $964,000 after purchasing an additional 2,680 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

Tanger Factory Outlet Centers stock opened at $7.13 on Wednesday. The business’s 50-day moving average price is $6.91 and its 200 day moving average price is $10.07. The company has a quick ratio of 6.62, a current ratio of 6.62 and a debt-to-equity ratio of 6.50. The firm has a market cap of $666.41 million, a price-to-earnings ratio of -237.59 and a beta of 1.93. Tanger Factory Outlet Centers Inc. has a 52 week low of $4.05 and a 52 week high of $17.94.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.82). Tanger Factory Outlet Centers had a negative return on equity of 0.39% and a negative net margin of 0.38%. The company had revenue of $108.56 million during the quarter, compared to analysts’ expectations of $110.37 million. Equities analysts expect that Tanger Factory Outlet Centers Inc. will post 1.64 EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. TheStreet lowered shares of Tanger Factory Outlet Centers from a “c-” rating to a “d” rating in a report on Friday, May 15th. ValuEngine downgraded Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Bank of America lowered Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $11.00 to $5.50 in a report on Monday, March 23rd. KeyCorp decreased their target price on Tanger Factory Outlet Centers from $12.00 to $3.00 and set an “underweight” rating for the company in a report on Friday, April 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Tanger Factory Outlet Centers from $15.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, June 18th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Tanger Factory Outlet Centers presently has an average rating of “Sell” and a consensus target price of $7.50.

Tanger Factory Outlet Centers Profile

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

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