Tanger Factory Outlet Centers, Inc. (SKT) Stake Lessened by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Tanger Factory Outlet Centers, Inc. (NYSE:SKT) by 80.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,053 shares of the real estate investment trust’s stock after selling 24,906 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tanger Factory Outlet Centers were worth $148,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SKT. Walter & Keenan Financial Consulting Co. MI ADV lifted its stake in Tanger Factory Outlet Centers by 128.6% in the third quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 47,100 shares of the real estate investment trust’s stock valued at $1,150,000 after purchasing an additional 26,500 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in Tanger Factory Outlet Centers by 7.8% in the third quarter. Malaga Cove Capital LLC now owns 51,266 shares of the real estate investment trust’s stock valued at $1,252,000 after purchasing an additional 3,711 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of Tanger Factory Outlet Centers during the third quarter worth $309,000. Macquarie Group Ltd. lifted its position in shares of Tanger Factory Outlet Centers by 16.7% during the third quarter. Macquarie Group Ltd. now owns 43,150 shares of the real estate investment trust’s stock worth $1,053,000 after acquiring an additional 6,167 shares in the last quarter. Finally, Commonwealth Equity Services Inc lifted its position in shares of Tanger Factory Outlet Centers by 11.1% during the third quarter. Commonwealth Equity Services Inc now owns 83,130 shares of the real estate investment trust’s stock worth $2,030,000 after acquiring an additional 8,273 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Several research firms have issued reports on SKT. BidaskClub downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Bank of America upgraded Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. KeyCorp restated a “hold” rating on shares of Tanger Factory Outlet Centers in a research report on Friday, August 25th. Zacks Investment Research downgraded Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Finally, Boenning Scattergood upgraded Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.00.

In other news, CMO Carrie A. Geldner sold 2,250 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $24.50, for a total value of $55,125.00. Following the transaction, the chief marketing officer now owns 51,261 shares of the company’s stock, valued at $1,255,894.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.80% of the company’s stock.

Tanger Factory Outlet Centers, Inc. (NYSE:SKT) traded down $0.57 during trading on Thursday, hitting $24.42. 1,110,100 shares of the stock traded hands, compared to its average volume of 1,566,937. The company has a market capitalization of $2,362.26, a PE ratio of 12.19, a P/E/G ratio of 3.31 and a beta of 0.52. Tanger Factory Outlet Centers, Inc. has a 52-week low of $21.81 and a 52-week high of $37.34. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.91.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were issued a $0.3425 dividend. The ex-dividend date was Monday, October 30th. This represents a $1.37 annualized dividend and a dividend yield of 5.61%. Tanger Factory Outlet Centers’s payout ratio is currently 220.97%.

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About Tanger Factory Outlet Centers

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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