928,388 Shares in Tanger Factory Outlet Centers Inc. (SKT) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC purchased a new position in Tanger Factory Outlet Centers Inc. (NYSE:SKT) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 928,388 shares of the real estate investment trust’s stock, valued at approximately $24,612,000.

Several other institutional investors have also modified their holdings of the stock. Advisor Group Inc. increased its stake in shares of Tanger Factory Outlet Centers by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 4,968 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 303 shares in the last quarter. QS Investors LLC increased its stake in shares of Tanger Factory Outlet Centers by 10.1% in the 2nd quarter. QS Investors LLC now owns 19,048 shares of the real estate investment trust’s stock worth $495,000 after acquiring an additional 1,745 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tanger Factory Outlet Centers by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,160 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 2,107 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Tanger Factory Outlet Centers by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 142,092 shares of the real estate investment trust’s stock worth $3,691,000 after acquiring an additional 2,704 shares in the last quarter. Finally, Smith Salley & Associates increased its stake in shares of Tanger Factory Outlet Centers by 2.4% in the 3rd quarter. Smith Salley & Associates now owns 154,908 shares of the real estate investment trust’s stock worth $3,783,000 after acquiring an additional 3,606 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

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

Several brokerages recently issued reports on SKT. ValuEngine lowered shares of Tanger Factory Outlet Centers from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. 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. Jefferies Group reiterated a “hold” rating and issued a $24.00 price target on shares of Tanger Factory Outlet Centers in a research note on Friday, December 22nd. Citigroup decreased their price target on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research note on Friday, November 10th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Tanger Factory Outlet Centers in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $26.60.

Shares of Tanger Factory Outlet Centers Inc. (NYSE SKT) opened at $23.79 on Friday. Tanger Factory Outlet Centers Inc. has a 1 year low of $21.81 and a 1 year high of $34.88. The company has a market cap of $2,248.82, a PE ratio of 11.60, a P/E/G ratio of 3.04 and a beta of 0.44. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.77). Tanger Factory Outlet Centers had a net margin of 12.34% and a return on equity of 8.98%. The firm had revenue of $120.77 million for the quarter, compared to analysts’ expectations of $117.51 million. equities analysts predict that Tanger Factory Outlet Centers Inc. will post 2.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a dividend of $0.343 per share. This represents a $1.37 annualized dividend and a yield of 5.77%. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, January 30th. Tanger Factory Outlet Centers’s dividend payout ratio is 220.97%.

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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.

Want to see what other hedge funds are holding SKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tanger Factory Outlet Centers Inc. (NYSE:SKT).

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

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