Point72 Hong Kong Ltd cut its holdings in shares of Tanger Factory Outlet Centers Inc. (NYSE:SKT) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,248 shares of the real estate investment trust’s stock after selling 3,084 shares during the period. Point72 Hong Kong Ltd’s holdings in Tanger Factory Outlet Centers were worth $239,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC lifted its stake in shares of Tanger Factory Outlet Centers by 48.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 2,228 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 728 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Tanger Factory Outlet Centers by 56.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,864 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,031 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in Tanger Factory Outlet Centers by 109.7% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,291 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 2,245 shares in the last quarter. CWM LLC acquired a new stake in Tanger Factory Outlet Centers during the 4th quarter valued at approximately $71,000. Finally, Signaturefd LLC increased its holdings in Tanger Factory Outlet Centers by 3,901.9% during the 4th quarter. Signaturefd LLC now owns 8,244 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 8,038 shares during the last quarter.

Shares of SKT stock traded down $0.42 during trading hours on Thursday, hitting $6.75. 3,425,342 shares of the company were exchanged, compared to its average volume of 5,740,931. The stock has a market capitalization of $679.03 million, a price-to-earnings ratio of 7.26 and a beta of 0.90. Tanger Factory Outlet Centers Inc. has a one year low of $5.55 and a one year high of $21.28. The business’s 50-day simple moving average is $11.08 and its two-hundred day simple moving average is $14.46. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.21 and a current ratio of 0.21.

Tanger Factory Outlet Centers (NYSE:SKT) last announced its quarterly earnings data on Monday, January 27th. The real estate investment trust reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.69). Tanger Factory Outlet Centers had a net margin of 18.28% and a return on equity of 17.71%. The firm had revenue of $120.50 million during the quarter, compared to the consensus estimate of $117.25 million. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. As a group, analysts anticipate that Tanger Factory Outlet Centers Inc. will post 1.95 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be issued a $0.3575 dividend. This represents a $1.43 dividend on an annualized basis and a dividend yield of 21.19%. This is an increase from Tanger Factory Outlet Centers’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, April 29th. Tanger Factory Outlet Centers’s payout ratio is 62.56%.

In other news, SVP Charles Allen Worsham sold 12,500 shares of Tanger Factory Outlet Centers stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $8.96, for a total value of $112,000.00. Following the completion of the transaction, the senior vice president now directly owns 37,574 shares of the company’s stock, valued at approximately $336,663.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Virginia R. Summerell sold 5,830 shares of Tanger Factory Outlet Centers stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $12.56, for a total transaction of $73,224.80. Following the completion of the transaction, the vice president now directly owns 34,310 shares of the company’s stock, valued at $430,933.60. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on SKT shares. Zacks Investment Research raised Tanger Factory Outlet Centers from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. KeyCorp decreased their price target on shares of Tanger Factory Outlet Centers from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, January 28th. ValuEngine lowered shares of Tanger Factory Outlet Centers from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Finally, Bank of America cut shares of Tanger Factory Outlet Centers from a “neutral” rating to an “underperform” rating and cut their price target for the company from $11.00 to $5.50 in a report on Monday. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and a consensus target price of $13.30.

About Tanger Factory Outlet Centers

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

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