Stifel Financial Corp Boosts Position in Tanger Factory Outlet Centers, Inc. (SKT)

Stifel Financial Corp increased its position in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 20.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,557 shares of the real estate investment trust’s stock after purchasing an additional 22,002 shares during the period. Stifel Financial Corp owned 0.14% of Tanger Factory Outlet Centers worth $3,342,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Legg Mason Asset Management Japan Co. Ltd. acquired a new position in Tanger Factory Outlet Centers in the second quarter worth about $294,000. Numeric Investors LLC acquired a new position in Tanger Factory Outlet Centers in the second quarter valued at approximately $12,855,000. OxFORD Asset Management LLP boosted its stake in Tanger Factory Outlet Centers by 194.8% in the second quarter. OxFORD Asset Management LLP now owns 128,446 shares of the real estate investment trust’s stock valued at $3,337,000 after acquiring an additional 84,872 shares during the period. Dimensional Fund Advisors LP boosted its stake in 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 acquiring an additional 36,147 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in Tanger Factory Outlet Centers by 14.3% in the second quarter. Parametric Portfolio Associates LLC now owns 118,894 shares of the real estate investment trust’s stock valued at $3,089,000 after acquiring an additional 14,860 shares during the period. Institutional investors and hedge funds own 96.82% of the company’s stock.

In other Tanger Factory Outlet Centers news, SVP Carrie A. Geldner sold 1,800 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $24.18, for a total transaction of $43,524.00. Following the sale, the senior vice president now directly owns 53,511 shares of the company’s stock, valued at $1,293,895.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas E. Mcdonough sold 10,734 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $26.74, for a total transaction of $287,027.16. Following the sale, the chief operating officer now directly owns 180,551 shares in the company, valued at $4,827,933.74. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

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A number of equities analysts have commented on SKT shares. Bank of America Corporation downgraded Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $28.00 to $25.50 in a research note on Friday, June 23rd. Zacks Investment Research upgraded Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Saturday, July 15th. Boenning Scattergood set a $25.00 target price on Tanger Factory Outlet Centers and gave the company a “sell” rating in a research note on Thursday, August 3rd. Jefferies Group LLC downgraded Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating and decreased their target price for the company from $38.00 to $29.00 in a research note on Friday, June 16th. Finally, BidaskClub upgraded Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.50.

Tanger Factory Outlet Centers, Inc. (SKT) opened at 25.30 on Thursday. Tanger Factory Outlet Centers, Inc. has a 52 week low of $23.06 and a 52 week high of $37.34. The firm has a 50-day moving average price of $24.43 and a 200-day moving average price of $26.97. The firm has a market capitalization of $2.40 billion, a P/E ratio of 16.80 and a beta of 0.49.

Tanger Factory Outlet Centers (NYSE:SKT) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01. Tanger Factory Outlet Centers had a net margin of 29.65% and a return on equity of 20.75%. The firm had revenue of $119.60 million during the quarter, compared to analyst estimates of $122.00 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts forecast that Tanger Factory Outlet Centers, Inc. will post $0.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a $0.3425 dividend. This represents a $1.37 annualized dividend and a yield of 5.42%. The ex-dividend date is Monday, October 30th. Tanger Factory Outlet Centers’s dividend payout ratio (DPR) is presently 90.73%.

Tanger Factory Outlet Centers 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.

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

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