Virginia Retirement Systems ET AL increased its holdings in Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 37.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 277,100 shares of the real estate investment trust’s stock after buying an additional 76,200 shares during the quarter. Virginia Retirement Systems ET AL owned 0.30% of Tanger Factory Outlet Centers worth $6,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Qube Research & Technologies Ltd purchased a new position in shares of Tanger Factory Outlet Centers in the second quarter worth approximately $119,000. Cambridge Investment Research Advisors Inc. bought a new stake in Tanger Factory Outlet Centers during the 2nd quarter worth approximately $217,000. Farmers & Merchants Investments Inc. bought a new stake in Tanger Factory Outlet Centers during the 2nd quarter worth approximately $235,000. ARP Americas LP bought a new stake in Tanger Factory Outlet Centers during the 2nd quarter worth approximately $251,000. Finally, Xact Kapitalforvaltning AB raised its stake in Tanger Factory Outlet Centers by 49.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 14,811 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 4,900 shares during the period.

A number of equities research analysts have commented on the stock. Scotiabank assumed coverage on shares of Tanger Factory Outlet Centers in a research note on Tuesday, October 16th. They set an “underperform” rating on the stock. ValuEngine cut shares of Tanger Factory Outlet Centers from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. Zacks Investment Research upgraded shares of Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Citigroup raised their target price on shares of Tanger Factory Outlet Centers from $21.00 to $22.50 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Tanger Factory Outlet Centers presently has a consensus rating of “Hold” and a consensus price target of $21.83.

Tanger Factory Outlet Centers stock opened at $23.63 on Friday. The company has a market cap of $2.21 billion, a PE ratio of 9.47, a P/E/G ratio of 2.05 and a beta of 0.42. The company has a current ratio of 0.06, a quick ratio of 0.07 and a debt-to-equity ratio of 3.33. Tanger Factory Outlet Centers Inc. has a 1 year low of $19.86 and a 1 year high of $26.73.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $124.24 million for the quarter, compared to analysts’ expectations of $119.47 million. Tanger Factory Outlet Centers had a net margin of 11.16% and a return on equity of 9.57%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. As a group, analysts anticipate that Tanger Factory Outlet Centers Inc. will post 2.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend is Tuesday, October 30th. Tanger Factory Outlet Centers’s payout ratio is currently 56.91%.

In other news, SVP Carrie A. Warren sold 2,000 shares of Tanger Factory Outlet Centers stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $24.14, for a total transaction of $48,280.00. Following the sale, the senior vice president now owns 53,501 shares in the company, valued at $1,291,514.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.10% of the company’s stock.

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Tanger Factory Outlet Centers Company Profile

Tanger Factory Outlet Centers, Inc (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that operates and owns, or has an ownership interest in, a portfolio of 44 upscale outlet shopping centers. Tanger's operating properties are located in 22 states coast to coast and in Canada, totaling approximately 15.3 million square feet leased to over 3,100 stores operated by more than 510 different brand name companies.

Further Reading: Earnings Per Share

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

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