Tanger Factory Outlet Centers (SKT) Downgraded by ValuEngine

Tanger Factory Outlet Centers (NYSE:SKT) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Sunday.

A number of other equities analysts have also recently weighed in on SKT. Jefferies Group reissued a “hold” rating and issued a $26.00 price objective on shares of Tanger Factory Outlet Centers in a research report on Thursday, September 21st. Zacks Investment Research lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Boenning Scattergood upgraded shares of Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research note on Friday, November 3rd. Bank of America upgraded shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research note on Thursday, November 9th. Finally, Citigroup cut their target price on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating on the stock in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $26.60.

Tanger Factory Outlet Centers (SKT) traded up $0.01 during trading hours on Friday, reaching $26.51. 1,175,087 shares of the company’s stock were exchanged, compared to its average volume of 1,238,218. 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 stock has a market cap of $2,505.94, a PE ratio of 42.76, a P/E/G ratio of 3.50 and a beta of 0.52. Tanger Factory Outlet Centers has a one year low of $21.81 and a one year high of $37.34.

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

Several institutional investors have recently modified their holdings of the company. Dean Investment Associates LLC raised its stake in Tanger Factory Outlet Centers by 9.1% during the third quarter. Dean Investment Associates LLC now owns 283,853 shares of the real estate investment trust’s stock worth $6,932,000 after acquiring an additional 23,783 shares during the period. Eii Capital Management Inc. acquired a new stake in Tanger Factory Outlet Centers during the third quarter worth about $605,000. Ameritas Investment Partners Inc. raised its stake in Tanger Factory Outlet Centers by 29.6% during the third quarter. Ameritas Investment Partners Inc. now owns 36,776 shares of the real estate investment trust’s stock worth $868,000 after acquiring an additional 8,400 shares during the period. California Public Employees Retirement System raised its stake in Tanger Factory Outlet Centers by 5.4% during the third quarter. California Public Employees Retirement System now owns 219,548 shares of the real estate investment trust’s stock worth $5,361,000 after acquiring an additional 11,248 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Tanger Factory Outlet Centers by 41.6% during the third quarter. Janney Montgomery Scott LLC now owns 66,423 shares of the real estate investment trust’s stock worth $1,622,000 after acquiring an additional 19,516 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

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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.

Analyst Recommendations for Tanger Factory Outlet Centers (NYSE:SKT)

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