Shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) have received an average recommendation of “Hold” from the ten brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $27.50.

A number of equities research analysts have recently issued reports on the stock. Jefferies Group reissued a “hold” rating and issued a $24.00 target price on shares of Tanger Factory Outlet Centers in a research report on Friday. Bank of America raised shares of Tanger Factory Outlet Centers from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 9th. Boenning Scattergood raised shares of Tanger Factory Outlet Centers from an “under perform” rating to a “neutral” rating in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Finally, Citigroup reduced their target price on shares of Tanger Factory Outlet Centers from $27.00 to $25.00 and set a “sell” rating for the company in a research report on Friday, November 10th.

Shares of Tanger Factory Outlet Centers (NYSE SKT) traded down $0.04 during trading on Monday, hitting $25.41. 1,516,154 shares of the stock were exchanged, compared to its average volume of 1,558,186. The company has a market capitalization of $2,400.00, a PE ratio of 40.98, a PEG ratio of 3.36 and a beta of 0.52. Tanger Factory Outlet Centers has a 52 week low of $21.81 and a 52 week high of $37.34. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.10 and a current ratio of 0.10.

In related 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 transaction of $55,125.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. lifted its position in Tanger Factory Outlet Centers by 164.2% during the second quarter. Salem Investment Counselors Inc. now owns 4,900 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 3,045 shares during the period. Advisor Group Inc. lifted its holdings in shares of Tanger Factory Outlet Centers by 6.5% in the second 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 during the last quarter. Capital Advisors Ltd. LLC bought a new position in shares of Tanger Factory Outlet Centers in the third quarter worth about $134,000. Riverhead Capital Management LLC lifted its holdings in shares of Tanger Factory Outlet Centers by 101.5% in the second quarter. Riverhead Capital Management LLC now owns 7,859 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 3,959 shares during the last quarter. Finally, BB&T Securities LLC lifted its holdings in shares of Tanger Factory Outlet Centers by 6.2% in the second quarter. BB&T Securities LLC now owns 8,575 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 501 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

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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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