Tanger Factory Outlet Centers Inc. (NYSE:SKT) shares saw unusually-strong trading volume on Monday . Approximately 4,656,036 shares changed hands during trading, an increase of 141% from the previous session’s volume of 1,933,373 shares.The stock last traded at $15.67 and had previously closed at $15.22.

Several research analysts have recently issued reports on SKT shares. Zacks Investment Research raised Tanger Factory Outlet Centers from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, September 18th. ValuEngine raised Tanger Factory Outlet Centers from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.60.

The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 6.32 and a beta of 0.65. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 3.34. The firm has a 50 day moving average price of $16.13 and a 200-day moving average price of $16.05.

Tanger Factory Outlet Centers (NYSE:SKT) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.31). The firm had revenue of $118.99 million for the quarter, compared to analyst estimates of $117.49 million. Tanger Factory Outlet Centers had a return on equity of 23.49% and a net margin of 24.51%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. As a group, equities analysts expect that Tanger Factory Outlet Centers Inc. will post 2.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 9.06%. The ex-dividend date of this dividend was Wednesday, October 30th. Tanger Factory Outlet Centers’s payout ratio is 57.26%.

In other Tanger Factory Outlet Centers news, insider Stewart Martin 800,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. Insiders own 2.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Usca Ria LLC acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter valued at about $25,000. Capital Investment Advisory Services LLC acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter valued at about $51,000. AllSquare Wealth Management LLC acquired a new position in Tanger Factory Outlet Centers in the 2nd quarter valued at about $75,000. Flagship Harbor Advisors LLC raised its stake in Tanger Factory Outlet Centers by 305.2% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 7,347 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 5,534 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in Tanger Factory Outlet Centers in the 3rd quarter valued at about $160,000. 98.09% of the stock is owned by hedge funds and other institutional investors.

Tanger Factory Outlet Centers Company Profile (NYSE:SKT)

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 40 upscale outlet shopping centers. Tanger's operating properties are located in 20 states coast to coast and in Canada, totaling approximately 14.4 million square feet leased to over 2,900 stores operated by more than 500 different brand name companies.

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