New York State Common Retirement Fund Decreases Position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT)

New York State Common Retirement Fund decreased its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 13.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 owned approximately 0.07% of Tanger Factory Outlet Centers worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in Tanger Factory Outlet Centers in the 2nd quarter worth $319,000. Bluefin Capital Management LLC purchased a new position in Tanger Factory Outlet Centers in the 2nd quarter worth $408,000. Pacer Advisors Inc. purchased a new position in Tanger Factory Outlet Centers in the 3rd quarter worth $5,223,000. Amalgamated Bank purchased a new position in Tanger Factory Outlet Centers in the 2nd quarter worth $955,000. Finally, Oregon Public Employees Retirement Fund grew its position in Tanger Factory Outlet Centers by 6.3% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 40,660 shares of the real estate investment trust’s stock worth $663,000 after purchasing an additional 2,409 shares during the period. Institutional investors own 82.50% of the company’s stock.

Shares of SKT opened at $19.44 on Friday. Tanger Factory Outlet Centers, Inc. has a fifty-two week low of $11.81 and a fifty-two week high of $22.51. The company has a debt-to-equity ratio of 2.94, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market capitalization of $2.02 billion, a P/E ratio of -388.72, a P/E/G ratio of 2.92 and a beta of 1.88. The business’s 50-day moving average is $19.92 and its two-hundred day moving average is $18.40.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its earnings results on Sunday, October 31st. The real estate investment trust reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $112.47 million for the quarter, compared to analyst estimates of $92.96 million. During the same quarter last year, the business earned $0.44 earnings per share. Tanger Factory Outlet Centers’s revenue was up 9.0% on a year-over-year basis. Analysts forecast that Tanger Factory Outlet Centers, Inc. will post 1.26 EPS for the current year.

In other news, EVP Chad Perry sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 4th. The stock was sold at an average price of $21.28, for a total transaction of $106,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Several equities research analysts have weighed in on SKT shares. Zacks Investment Research raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, November 9th. Compass Point raised Tanger Factory Outlet Centers from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 3rd. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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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