Morgan Stanley Has $175.44 Million Stake in Tanger Factory Outlet Centers, Inc. (SKT)

Morgan Stanley raised its position in shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 9.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,353,601 shares of the real estate investment trust’s stock after buying an additional 477,744 shares during the period. Morgan Stanley owned about 5.62% of Tanger Factory Outlet Centers worth $175,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SKT. Dimensional Fund Advisors LP raised its stake in shares of Tanger Factory Outlet Centers by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,340,529 shares of the real estate investment trust’s stock worth $43,930,000 after buying an additional 13,198 shares during the last quarter. Liberty Mutual Group Asset Management Inc. raised its position in Tanger Factory Outlet Centers by 2.7% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 43,548 shares of the real estate investment trust’s stock valued at $1,426,000 after buying an additional 1,146 shares during the last quarter. Geode Capital Management LLC raised its position in Tanger Factory Outlet Centers by 4.4% in the first quarter. Geode Capital Management LLC now owns 830,032 shares of the real estate investment trust’s stock valued at $27,200,000 after buying an additional 34,935 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Tanger Factory Outlet Centers by 9.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,513 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 649 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Tanger Factory Outlet Centers by 2.6% in the first quarter. Vanguard Group Inc. now owns 15,108,109 shares of the real estate investment trust’s stock valued at $495,093,000 after buying an additional 384,258 shares during the last quarter. 95.58% of the stock is owned by institutional investors and hedge funds.

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

Shares of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) traded down 0.88% on Tuesday, reaching $25.76. The company’s stock had a trading volume of 1,055,686 shares. The firm’s 50 day moving average is $26.79 and its 200-day moving average is $32.06. The stock has a market cap of $2.45 billion, a P/E ratio of 13.15 and a beta of 0.46. Tanger Factory Outlet Centers, Inc. has a 52-week low of $24.71 and a 52-week high of $42.20.

Tanger Factory Outlet Centers (NYSE:SKT) last issued its earnings results on Monday, May 1st. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.58 by $0.35. Tanger Factory Outlet Centers had a net margin of 39.32% and a return on equity of 27.05%. The business had revenue of $121.37 million for the quarter, compared to analysts’ expectations of $122.59 million. During the same quarter in the prior year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that Tanger Factory Outlet Centers, Inc. will post $1.01 EPS for the current year.

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SKT has been the topic of several research reports. Evercore ISI upgraded Tanger Factory Outlet Centers from a “hold” rating to an “outperform” rating in a research note on Friday, March 3rd. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Wednesday, March 29th. Jefferies Group LLC cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and cut their target price for the company from $38.00 to $29.00 in a research note on Friday. ValuEngine cut Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. upgraded Tanger Factory Outlet Centers from a “sell” rating to a “neutral” rating in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.20.

In other news, EVP Chad Perry sold 8,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $27.57, for a total transaction of $220,560.00. Following the transaction, the executive vice president now directly owns 78,112 shares of the company’s stock, valued at approximately $2,153,547.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas E. Mcdonough sold 10,409 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $32.69, for a total value of $340,270.21. Following the completion of the transaction, the chief operating officer now directly owns 191,285 shares in the company, valued at $6,253,106.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,339 shares of company stock worth $1,499,994. Company insiders own 2.10% 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.

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